IBM to buy ISS – $1.3 billion in cash

Having worked in computer security in the past, I like to know what’s going on in the security community in case I manage to get a job back in that industry.  So when I read that IBM is buying Internet Security Systems, Inc. for $1.3 billion in cash, I figured I should post about it, in case either of my readers like to keep up with these things and haven’t heard yet.  The article comes from an Australian paper, so I don’t know if that cost is in Australian or US dollars, but I’m guessing it’s US dollars.

With revenue growth sluggish at IBM Corp., Big Blue is buying its way to getting bigger.

The company’s recent acquisition roll continued Wednesday with a deal to spend $1.3 billion in cash for Internet Security Systems Inc., which performs network monitoring and analysis services for companies.

The deal values ISS at $28 a share, almost an 8 percent premium over its $26 closing price Tuesday on the Nasdaq Stock Market. If the acquisition is approved by shareholders, the companies expect it to close in the fourth quarter.

[tags]IBM, ISS, Internet Security Systems Inc., IBM buys ISS, Security news[/tags]