(By Balachander) International Business Machines Corp. (NYSE: IBM) has agreed to acquire the software portfolio of privately held Star Analytics Inc.
Financial terms of the deal were not disclosed.
IBM's purchase of the Redwood City, California-based Star Analytics will extend its technology in performance management and business analytics software.
"IBM sees an enormous opportunity for our clients to apply Star Analytics to the information they have stored in their financial applications," said Leslie J Rechan, General Manager, IBM Business Analytics.
Star Analytics - founded in 2004 - offers two products: Star Integration Server software extracts and moves data into data warehouses and repositories for use with Performance Management (PM) and Business Analytics (BA) applications. Star Command Center software enables business users to automate and and control processes across heterogeneous computing applications and environments.
The deal is expected to be completed in the first quarter of 2013.
IBM plans to integrate Star Analytics technology into the IBM Business Analytics portfolio to enhance Performance Management (PM) solutions.
IBM shares traded 1.07 percent higher at $205.24 on Friday.