IBM to buy Software AG’s enterprise technology business for $2.3 billion

© Reuters. FILE PHOTO: The IBM logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 27, 2018. REUTERS/Brendan McDermid//File Photo

(Reuters) – IBM said on Monday it will buy enterprise technology platform Software AG for 2.13 billion euros ($2.33 billion) to boost its artificial intelligence and hybrid cloud offerings.

IBM (NYSE: ) will acquire Software AG’s StreamSets and webMethods platforms with available cash, it said.

Platforms provide application integration, application programming interface (API) management, and data integration, among other things.

Software AG is the majority owner of the private equity firm Silver Lake.

“The opportunity to bring the StreamSets and webMethods teams together with IBM to innovate in building the future of hybrid cloud and next-generation AI solutions for the enterprise is uniquely compelling,” said Christian Lucas, Chairman of the Supervisory Board of Software AG. declaration.

(1 dollar = 0.9158 euros)