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IBM on Monday said it’s paying 2.1 billion ($2.3 billion) to buy two units of a German software company to boost its artificial intelligence and hybrid cloud offerings.
The all-cash deal has IBM buying Software AG’s StreamSets and webMethods from private-equity group Silver Lake.
IBM said StreamSets will add data ingestion capabilities while webMethods will provide additional integration and API management tools for their hybrid multi-cloud environments.
IBM said the deal is expected to close in the second quarter of 2024 and will be financed with cash on hand.
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This post was originally published on Market Watch
