IBM, Cognos merger on track to close in first quarter

By Lisa Kerner

Charlotte, N.C., Jan. 16 - The Ontario Superior Court of Justice issued a final order approving International Business Machines Corp.'s acquisition of Cognos Inc., the companies announced on Wednesday.

IBM agreed to acquire Cognos in an all-cash transaction valued at $4.9 billion as part of its Information on Demand strategy.

Cognos shareholders approved the deal at a special meeting on Jan. 14.

The transaction is expected to be completed during the first quarter, according to a company news release.

In September, Cognos announced it would acquire Applix, Inc. for $17.87 per share, or about $339 million. At the time, that transaction was 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.

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