By Cecile Daurat - Dec 8, 2011 9:32 PM GMT+0700
International Business Machines Corp. (IBM), the world’s biggest producer of computer services, agreed to buy DemandTec Inc. (DMAN) for about $440 million, adding Internet- based tools to help businesses make decisions based on consumer buying trends.
The all-cash transaction amounts to $13.20 a share, Armonk, New York-based IBM said today in a statement. That’s 57 percent higher than DemandTec’s closing price yesterday.
The purchase will extend IBM’s Smarter Commerce initiative with price, promotion and other marketing analytics that let companies examine different customer-buying scenarios, online and in stores, and spot shopping trends. The market for Smarter Commerce is worth $20 billion in software alone, IBM estimates.
DemandTec, based in San Mateo, California, has approximately 450 customers worldwide in retail, consumer products and other industries and employs more than 350 people.
IBM fell 0.4 percent to $193.23 at 9:30 a.m. New York time. DemandTec trading was halted pending the announcement.
To contact the reporter on this story: Cecile Daurat in Wilmington at cdaurat@bloomberg.net
To contact the editor responsible for this story: Kevin Miller at kmiller@bloomberg.net
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