IBM announced a definitive agreement to acquire Coremetrics, a developer of web analytics software. Coremetrics is a privately held company based in San Mateo, CA, which delivers web analytics capabilities to more than 2,100 brands in industries such as retail, financial services, media, and publishing. Their clients include Bank of America, Holiday Inn, PETCO, and Office Depot.
Coremetrics creates software that helps companies develop marketing campaigns that can return real-time intelligence on consumer reaction, and allow clients to make accurate decisions on marketing expenditures. The company's offerings will be added to IBM's business analytics portfolio, giving IBM the ability to deliver powerful business analytics solutions with web analytics capabilities.
Upon completion of the acquisition, the company will become part of IBM's application and integration middleware portfolio, which provides transaction processing and powers many of the world's leading retail sites.