IBM Corp has announced that it will spend USD 1.3 billion in cash to acquire Internet Security Systems, which performs network monitoring and analysis services for companies.
The shares of Internet Security Systems have been rising in the last couple of weeks as the market had been expecting this deal to come through. IBM would be paying close to around USD 28 a share for Internet Security as they acquire yet another company in order to expand their services to stay ahead of the game.
"ISS has been on our radar screen for some time," said IBM spokeswoman Lia Papa. "We're starting to focus on managed security services for our clients, and this helps us grow that part of our business."
"From IBM's point of view, you can't have IT without security," Paul Stamp, a security analyst with Forrester Research said. "This helps plug some of the gaps in its security portfolio."
Customers are demanding security software that seamlessly integrates with existing systems and data, he said, forcing IBM to acquire a company that could offer "well-rounded solutions in that space."
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