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IBM to Acquire Analytics Firm Netezza
IBM is planning to acquire Marlborough, MA-based Netezza for around $1.7bn in cash or c.$27 per share. If successful, the firm will be integrated with IBM's Business Analytics and Optimization Consulting offer within its Information Management software portfolio.
In the last four years, the computer giant has invested more than $12bn in 23 analytics related acquisitions and its analytics business grew 14% in the second quarter. If the deal completes, Netezza's c.500 employees worldwide would be added to more than 6,000 IBM consultants dedicated to analytics. The two companies have been strategic partners for a number of years.
Netezza provides high-performance analytics in a data warehousing appliance which it claims can be up and running in a matter of hours and handle complex analytic queries '10 to 100 times faster than traditional systems', giving end-users control. It boasts more than 350 clients including Time Warner, Estee Lauder, NYSE Euronext and Virgin Media.
Steve Mills, SVP and Group Executive, IBM Software and Systems says the company is 'bringing analytics to the masses' and that Netezza's approach fits nicely with this, putting high-performance analytics at the fingertips of end-users with minimal need for administration and IT skills and rapid deployment.
Netezza President and CEO Jim Baum says the deal will help his company extend its capabilities to a much broader market. 'Our vision of an appliance-based Intelligent Economy aligns very well with IBM's Smarter Planet strategy... Our customers choose our appliances for their fast time to value and how they simplify analytics against big data.'
The acquisition is subject to Netezza shareholder approval and other closing conditions, and is expected to close in the fourth quarter of 2010.
Web sites: www.ibm.com and www.netezza.com .
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