IBM have agreed to acquire Ascential Software for $1.1 billion in cash, the companies said today.
The acquisition price of $18.50 per share works out to a premium of 17.8 per cent over Ascential's Friday closing price of $15.70.
Pending shareholder approval and regulatory clearance, the deal is expected to close in the second quarter, the companies said.
Ascential's operations would become a business unit within IBM's information-management software division.
The transaction "offers Ascential Software shareholders solid appreciation over recent trading prices of our stock, without the execution and business risk," said Mr Peter Gyenes, Westboro, US-based Ascential's chairman and chief executive, in a statement.
