IBM/Netezza

On September 20, 2010, IBM (NYSE: IBM) announced that they have entered an agreement to acquire Netezza (NYSE: NZ) for $1.7 billion in cash, or $27 per share.

The transaction is expected to close in the fourth quarter of 2010. The acquisition is also subject to NZ shareholder approval.

Following the close of the acquisition, IBM intends to integrate Netezza within IBM's Information Management software portfolio. Netezza has approximately 500 employees around the world.

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