IBM announced on Sept. 20 that it will acquire technology analytics firm Netezza in a cash transaction valued at $1.7 billion.
IBM said Netezza, a publicly held company based in Marlborough, Massachusetts, will expand IBM's business analytics sector, which aims to help clients gain faster insights into their business information.
"IBM is bringing analytics to the masses," said Steve Mills, senior vice president , IBM Software and Systems.
"We continue to evolve our capabilities for systems integration, bringing together optimized hardware and software, in response to increasing demand for technology that delivers true business value," he said.
"Netezza strongly complements our business analytics capabilities and client base. Together, we have the opportunity to quickly leverage the technology and accelerate the offering," Mills added.
The two companies have been strategic partners for many years, cooperating on systems that deliver integrated systems, software and storage for analyzing vast amounts of complex data.
Copyright Agence France-Presse, 2010