IBM aims to boost AI offerings with $2.3B acquisition

▤ Summary

IBM announced on Monday its plans to buy Software AGs StreamSets and webMethods platforms for $2.3 billion cash in a move aimed at bolstering the tech giants artificial intelligence and hybrid cloud offerings. "This powerful combination helps drive innovation while preparing businesses for AI, no matter where applications or data reside." GENERATIVE AI: WHAT TO WATCH IN 2024 "The opportunity to bring the StreamSets and webMethods teams together with IBM to innovate in building the future of hybrid cloud and next-generation AI solutions for the enterprise is uniquely compelling," said Christian Lucas, chairman of the supervisory board of Software AG and managing partner of Silver Lake. "We are pleased that our investment in Software AG helped spark that vision, reflecting Silver Lakes commitment to partner with the worlds best management teams and technology leaders in driving exceptional value creation for customers, employees and other stakeholders," Lucas added. GET FOX BUSINESS ON THE GO BY CLICKING HERE IBMs acquisition of the two Software AG platforms is expected to be completed in the second quarter of 2024.

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