Netezza to be Acquired by IBM for $1.75BBy Soumitra Mondal, Gaea News Network
Monday, September 20, 2010
New York (GaeaTimes.com) - IBM-International Business Machines Corp. reached an agreement to acquire data specialist Netezza Corp. The deal is valued at $1.7 billion.
Recently, IBM is acquiring companies in business analytics to expand its offerings in the field significantly. It has already spent an amount more than $12 billion. It bought 23 firms in this sector during the past four years. It includes Cognos, Guardium, and Unica in Massachusetts. It also purchased Ascential Software which is a data warehouse technology maker. The deal was for $1.1 billion in the year 2005.
The companies and government agencies are served by Netezza with the technology to quickly analyze huge amounts of data. IBM says that this deal will give an advantage in its business of analytics. IBM has worked with Netezza. The results were fruitful as they made products for analyzing huge amounts of data which is complicated. It also found new trends in the data.
The hardware and software used by big companies like Amazon and Nieman Marcus are made by Netezza. It combines their storage, server, and database functions into one system. Netezza got more competitive last year. Its product and its price and offerings got a broader recognition. It also got a broader customer base. Its customers include eHarmony, Time Warner, Estee Lauder, Blue Cross Blue Shield of Massachusetts, United HealthGroup, and Nationwide Insurance. Netezza’s target and the way to reach its target match very well with IBM’s Smarter Planet strategy as stated by The President and CEO of Netezza. Netezza are looking forward to extend their capabilities into a broader market. Netezza is having about 500 employees’ throughout the world. It has a competition with companies like Oracle, Teradata, and, IBM, until today.