IBM announced that it will purchase Software AG’s StreamSets and webMethods solutions using cash on hand.
IBM (IBM.N) announced on Monday that it will pay 2.13 billion euros ($2.33 billion) for Software AG’s (SOWGn.DE) corporate integration platforms to enhance its artificial intelligence and hybrid cloud services.
IBM said it will buy Software AG’s StreamSets and webMethods systems using cash on hand. The two units combined to establish Software AG’s “Super Ipaas” business, which debuted in October.
Among other things, the platforms can be used for application integration, API administration, and data integration.
Following a months-long acquisition effort, private equity firm Silver Lake now owns 93.3% of Software AG. This transaction valued the entire company at 2.6 billion euros ($2.84 billion).
“The opportunity to bring together the StreamSets and webMethods teams with IBM to innovate in building the future of hybrid cloud and next-generation AI solutions for enterprises is uniquely compelling,” said Christian Lucas, chairman of Software AG’s supervisory board.
The deal is subject to regulatory approval and is expected to close in the second quarter of 2024.
Silver Lake launched its delisting offer for Software AG at 32 euros ($34.96) per share, the expected next step following its acquisition this year.
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