IBM To Acquire FileNet Content Management Software For $1.6 Billion Cash
By Angsuman Chakraborty, Gaea News NetworkThursday, August 10, 2006
FileNet is a publicly traded California company with an annual revenue last year of nearly $422 million. The 24-year-old company is one of the largest specialists in content and document management software sold to large corporations.
IBM said that it will integrate FileNet’s products with its own content-management software developed in its Information Management division.
In addition, IBM said it will seek to combine FileNet’s content-management software with its business process management tools for automating complex business workflows.
The acquisition price of $35 per FileNet share is only a slight premium over the closing price of FileNet’s stock on Wednesday.
The transaction is expected to close in the fourth quarter. via
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August 10, 2006: 12:44 pm
[...] With the completion of today’s announced acquisition of FileNet by IBM, IBM is very likely to be the leader of content management software market. [...] |
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