IBM will acquire Software AG's StreamSets and webMethods
platforms with available cash on hand, it said. The two units formed Software
AG's so-called "Super Ipaas" business, which was launched in October.
The platforms provide application integration, application
programming interface (API) management, and data integration among other uses.
Software AG is majority owned by private equity firm Silver
Lake, which currently owns 93.3% of shares in the German software company,
following a takeover pursuit spanning several months. That deal valued the
whole business at 2.6 billion euros ($2.84 billion).
"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,"
Christian Lucas, chairman of the supervisory board of Software AG said in a
statement.
The transaction is subject to regulatory approvals and is
expected to be completed in the second quarter of 2024.
Silver Lake simultaneously announced its delisting offer for
Software AG at 32 euros ($34.96) per share, the expected next step following
its takeover this year. - Reuters