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10 Aug 2006
IBM has acquired enterprise content management (EMC) software provider FileNet for approximately $1.6bn.
Big Blue claimed the acquisition solidifies its position in the EMC market. It also marks the 20th acquisition supporting IBM's Information on Demand initiative, which the vendor claims aims to help customers take better advantage of all types of information - regardless of format, platform or location.
Ambuj Goyal, general manager of IBM Information Management, said: "Freeing up information contained in content management systems is critical to unlocking the potential of information to improve business processes and performance. The combination of IBM and FileNet will provide our customers and partners with industry-focused content management solutions that offer a new level of business value."
Lee Roberts, chairman and chief executive of FileNet, said: "The growth in enterprise deployments of ECM and BPM technologies is fueling a global market expansion. The combination of IBM and FileNet will deliver increased innovation and industry-focused content management solutions, enabling our clients, systems integrators, ISVs and other partners to create enhanced and more competitive solutions. At the same time, this transaction offers FileNet shareholders a solid premium over historical trading prices of our stock."
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