IBM has announced that it has entered into a definitive agreement with Software AG to purchase StreamSets and webMethods, Software AG’s Super iPaaS (integration platform-as-a-service) enterprise technology platforms, for €2.13 billion (approximately C$3.11 billion) in cash.
The acquisition of StreamSets and webMethods is, IBM said in a release, “further evidence of IBM’s deep focus and investment in AI and hybrid cloud. StreamSets will add data ingestion capabilities to watsonx, IBM’s AI and data platform, while webMethods will give clients and partners additional integration and API management tools for their hybrid multi-cloud environments.”
The pending acquisition follows a more than 20-year relationship between IBM and Software AG, with both StreamSets and webMethods expected to drive synergy with IBM’s current portfolio, including watsonx, Red Hat, the company’s IT automation products, as well as IBM Consulting. Additionally, StreamSets and webMethods are expected to benefit from IBM’s global scale, operating in more than 175 countries, the company said.
The acquisition will be completed using available cash on hand. It is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in the second quarter of 2024.
