IBM, the world’s biggest computer-services provider, has agreed to buy Sterling Commerce for $1.4 billion in cash, gaining software that helps businesses conduct transactions. IBM will buy Dublin, Ohio-based Sterling from ATandT, the biggest US phone carrier.
The chief executive officer at IBM, Sam Palmisano, plans to spend $20 billion on takeovers over the next five years as he bolsters IBM’s software business. – (Bloomberg)
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