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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.
IBM shares
IBM,
closed lower on Friday but have gained 15% this year.
