IBM to Buy FileNet for $1.6 Billion

Iria · Aug 10, 2006, 04:36 PM

Source: ABC News
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BOSTON Aug 10, 2006 (AP)— IBM Corp. took another step to build out its software portfolio Thursday by announcing a $1.6 billion acquisition of FileNet Corp., which helps companies route data through business applications.

The all-cash deal values FileNet at $35 a share, a slim premium to FileNet's $34.65 closing price on the Nasdaq Stock Market on Wednesday. If shareholders approve, the deal would close in the fourth quarter.

Aug 10, 2006, 04:36 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	IBM to Buy FileNet for $1.6 Billion Source: ABC News _________ BOSTON Aug 10, 2006 (AP)— IBM Corp. took another step to build out its software portfolio Thursday by announcing a $1.6 billion acquisition of FileNet Corp., which helps companies route data through business applications. The all-cash deal values FileNet at $35 a share, a slim premium to FileNet's $34.65 closing price on the Nasdaq Stock Market on Wednesday. If shareholders approve, the deal would close in the fourth quarter.