Computing giant IBM announced a plan to acquire data analysis firm Netezza Corporation on Monday as it attempts to diversify its business and make a foray into the potentially profitable world of analytics. IBM’s offer was for $1.7 billion, or $27 per share, and is the latest installment in a $12 billion investment in analytics acquisitions since 2006.
Netezza’s niche in the world of analytics is helping corporate clients find and sort data that will help them make financial and strategic decisions. It produces both hardware and software products that assist clients as they sort through the billions and billions of bits of information that are stored on corporate servers. These products help clients quickly and easily find the exact data they need to track market trends and understand economic forces that are affecting sales. The company is based in Massachusetts and has several high-profile clients, including Virgin Media, NYSE Euronext, Neiman Marcus and Time Warner.
One interesting development to note is that Netezza’s shares inched ahead of the $27 benchmark set by the offer during trading on Monday. This may signal the possibility of another acquisition bid being readied by a rival of IBM.
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