Fergie's Tech Blog

IBM to Buy ISS for $1.3 Billion

Jim Finkle writes for Reuters:

IBM said on Wednesday it agreed to buy Internet Security Systems Inc. for $1.3 billion to beef up its product line in the rapidly growing business of Internet security.

International Business Machines Corp., continuing an acquisition drive to fuel growth in its software and services businesses, said it will pay $28 a share for Internet Security, a 7.7 percent premium to its Tuesday closing price of $26.

Internet Security runs data centers that remotely protect businesses against Internet-based attacks. It is the only major player in that area, Ives said.

posted by Fergie @ 8/23/2006 02:26:00 PM