IBM and Ascential Software Corporation have entered into a definitive agreement for IBM to acquire the equity of Ascential Software, a publicly held company based in Westboro, MA, in an all cash transaction at a price of approximately $1.1 billion or $18.50 per share. The acquisition is subject to Ascential Software shareholder and regulatory approvals and other customary closing conditions, and is expected to close in the second quarter of 2005.
Ascential Software is a provider of enterprise data integration software. Customers use Ascential's data integration software to build enterprise data warehouses, power business intelligence systems, consolidate enterprise applications, create and manage master repositories of business information, and enable on demand data access. Ascential Software's integrated portfolio is designed to help companies solve data integration challenges to streamline operations, improve customer support, expedite business transactions, and make better strategic decisions.
Once the acquisition is completed, IBM plans to: establish Ascential Software's operations as a business unit within IBM's Information Management software division led by General Manager Janet Perna; incorporate Ascential Software technology and solutions into IBM's Information Management and Software Group offerings; market and sell Ascential Software products through IBM's and Ascential Software's worldwide sales channels and Business Partners; and build upon the companies' existing partnership, which includes more than 550 joint customers worldwide.