International Business Machines Corp. (IBM) agreed to acquire
Unica Corp. (UNCA) for about $480 million, a move aimed to help the
technology giant offer customers tools to create more-targeted
marketing campaigns.
IBM is offering $21 a share to Unica holders, more than double
Thursday's closing price and the highest level the stock has ever
seen.
Big Blue last month reported difficulty expanding its sales in
the second quarter as currency pressures and an unexpected drop in
contract signings in its big outsourcing business weighed on
results.
The company's focus has been shifting to higher-margin software
business to keep profit growing. IBM has been building up in the
space, spending more than $11 billion in the past five years. The
latest deal, set to close in the fourth quarter, follows its recent
acquisition of analytics software-maker Coremetrics and its
$1.4-billion purchase of Sterling Commerce from AT&T Inc. (T)
in May.
Unica's 500 employees will be integrated into IBM's software
division, where IBM expects Unica's software for marketing
organizations will complement its business-analytics and consulting
unit, which includes 5,000 consultants and a network of analytics
centers.
Unica has more than 1,500 global customers across a wide range
of industries including financial, retail communications and
hospital. The company has swung to the black in each of the past
three quarters as revenue has been rising of late.
Shares of IBM and Unica closed Thursday at $128.30 and $9.55,
respectively. Neither was active in premarket trading.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
Tess.Stynes@dowjones.com