IBM To Buy Cognos For Almost $5 Billion; Xconomy Updates Its Local Big Blue Map
IBM announced yesterday that it would buy Canadian business intelligence software firm Cognos for nearly $5 billion, its largest acquisition in history. Cognos’ U.S. headquarters is in Burlington, MA, and the company employs nearly 400 people in Massachusetts. The staggering purchase price nearly equals the total Big Blue paid for two other state software powerhouses, Lotus ($3.1 billion in 1995) and Rational ($2.1 billion in 2003).
The Boston Globe has a good write-up today. The purchase price of $58 per share represents a nearly 10 percent premium over Cognos’s Friday closing price. Subject to Cognos shareholder approval, the all-cash deal is expected to close in the first quarter of next year.
A few months ago, when Big Blue announced plans to consolidate its software operations in the Bay State, we put together a map of IBM’s locations, old and new. We’ve updated it here to include the two Cognos operations, the main headquarters in Burlington and a satellite site in Westborough (the location of business forecasting software maker Applix, which Cognos acquired in September and which now also becomes part of IBM).
|Locations of IBM Facilities in Greater Boston, including software firms acquired since 1995.|