IBM, Cognos merger clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., Dec. 5 - The Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of Cognos Inc. and IBM Corp.

Cognos shareholders still must approve the deal, which is slated to close in the first quarter of 2008, according to a company news release.

As previously reported, IBM agreed to acquire Cognos in an all-cash transaction valued at $4.9 billion, or $58 per share, as part of IBM's Information on Demand strategy.

IBM plans to integrate Cognos as a group within IBM's information management software division. Current Cognos president and chief executive officer Rob Ashe will lead the group.

In September, Cognos announced it would acquire Applix, Inc. for $17.87 per share, or some $339 million. That transaction is expected to close in the fourth quarter of 2007. Applix is a business analytics software solutions company based in Westborough, Mass.

Cognos is a business intelligence and performance management software solutions company located in Ottawa.

IBM, based in Armonk, N.Y., develops computer systems, software, storage systems and microelectronics.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.