(Wireless News via NewsEdge) IBM has acquired content management and business process solutions company FileNet in an all-cash transaction worth $1.6 billion.
The acquisition is subject to FileNet shareholder approval, regulatory reviews and other customary closing conditions. It is expected to close in the fourth quarter of this year.
IBM said the acquisition builds upon IBM's information-on-demand initiative, launched in February, to address market opportunity around combining IBM's software, services, partners and industry consulting to improve clients' business performance.
The information-on-demand strategy aims to provide clients with data exactly when and how they need it to improve their business processes, quickly respond to market needs and rapidly identify new business opportunities.
IBM said it plans to build upon the advanced content management technologies of both companies to provide customers and partners with solutions to capture and deliver content as part of a business process.
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