IBM to buy Software AG’s enterprise integration platforms for €2.13

IBM said on Monday that it would buy Software AG's enterprise integration platforms for €2.13 billion ($2.33 billion) to bolster its artificial intelligence and hybrid cloud offerings.

IBM will acquire Software AG's StreamSets and webMethods platforms with available cash on hand, it said. two units formed Software AG's so-called "Super Ipaas" business, which was launched in October.

platforms provide application integration, application programming interface (API) management, and data integration among or uses.

Software AG is majority-owned by private equity firm Silver Lake, which currently owns 93.3 per cent of shares in German software company, following a takeover pursuit spanning several months. That deal valued whole business at €2.6 billion ($2.84 billion).

" opportunity to bring StreamSets and webMethods teams toger with IBM to innovate in building future of hybrid cloud and next-generation AI solutions for enterprise is uniquely compelling," Christian Lucas, chairman of supervisory board of Software AG said in a statement.

transaction is subject to regulatory approvals and is expected to be completed in second quarter of 2024.

Silver Lake simultaneously announced its delisting offer for Software AG at €32 ($34.96) per share, expected next step following its takeover this year.