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IBM pays Software AG over €2bn for enterprise tech platforms

AI powered autonomous lab

US software giant IBM announced on Monday it is spending €2.13bn to buy two enterprise technology platforms from Software AG.

International Business Machines Corp.

18 December 2023 11:43:56

Source: Sharecast

The New York-headquartered group is buying Software AG's iPaaS (integration platform-as-a-service) products StreamSets and webMethods to bolster its offering to customers wanting to accelerate digital transformation.

StreamSets and webMethods together serve more than 1,500 global clients in the application integration, API management, and data integration market, which IDC predicts will exceed $18bn in 2027 at a compound annual growth rate of 16.1% between 2023 and 2027.

In a statement, IBM said the deal is "further evidence of IBM's deep focus and investment in AI and hybrid cloud".

"StreamSets will add data ingestion capabilities to watsonx, IBM's AI and data platform, while webMethods will give clients and partners additional integration and API management tools for their hybrid multi-cloud environments."

Commenting on the acquisition, IBM's senior vice president of software and chief commercial officer, Rob Thomas, said: "Today's news will give IBM clients and partners one of the most modern and comprehensive application and data integration platforms in the industry."

Software AG's shares were up 2% at €32.44 by 1222 in Frankfurt, while IBM futures were flat at $162.22 in pre-market trade in New York.

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