IBM will be $1 billion 600 million acquisition of FileNet continue to expand the business software

U.S. Eastern time on August 10th (Beijing time on August 11th), according to foreign reports, the latest reports, IBM and FileNet, the two companies announced on Thursday, IBM has agreed to approximately $1 billion 600 million in cash to acquire FileNet.

FileNet is headquartered in California, the company's 2005 profit of $422 million, a total of 1700 employees. FileNet was founded in 1982, mainly to provide content and file management software for large enterprises. FileNet's main competitors for Oracle and EMC.

IBM said it would buy FileNet at $35 per share. The price of the acquisition was $0.35 higher than FileNet's closing price of $34.65 on the Nasdaq market on Wednesday, a premium of $1%. IBM said that if the acquisition was approved by the two shareholders of the company, the entire transaction is expected to be completed in the fourth quarter of this year. According to IBM's plan, after the completion of the acquisition, the company will FileNet operations, employees and management team directly into the IBM content management.

FileNet CEO and chairman Lee Robert said, according to the history of the company's stock price, the current purchase price of IBM will enable the company's shareholders to get a certain amount of revenue. IBM software has become the company's most profitable business sector. Over the past 10 years, the IBM software division has conducted more than 50 acquisitions. Earlier this month, IBM to $740 million cash acquisition of the MRO software company.

Currently, including IBM, Microsoft and Oracle, including large software companies, are content management software into their product lines.