IBM Buys MRO Software
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IBM continued its shopping spree on Thursday, picking up MRO Software for a cool $740 million in cash, or about $25.80 a share.
IBM is paying a 19.4% premium for the MRO shares as of Wednesday’s closing price of $21.60. On Thursday, MRO shares skyrocketed 17.9%, or $3.86, to $25.46 in heavy trading. IBM said the acquisition will boost its ability to build repeatable tools based on service oriented architectures (SOA). The company will be integrated into IBM’s Tivoli software unit and also be available through IBM Global Services.
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