SOURCE: IBM
December 21, 2007 03:14 ET
IBM to Acquire Solid Information Technology to Broaden Information on Demand Portfolio
HELSINKI, FINLAND and ARMONK, NY--(Marketwire - December 21, 2007) - IBM (NYSE: IBM) today
announced it has entered into an agreement to acquire Solid Information
Technology, a privately held company based in Cupertino, California, and
Helsinki, Finland, that provides in-memory database software. Financial
details were not disclosed.
The acquisition of Solid Information Technology supports IBM's global Information on Demand strategy by adding real-time data access
capabilities to the company's broad portfolio of database and information
management offerings. Solid Information Technology's software uses
in-memory database technology to quickly retrieve data from a computer's
memory (or RAM). Using this technology, businesses can access and store
data at speeds up to ten times faster than using traditional disk-based
database systems. Additionally, Solid Information Technology's database
server can recover from system failure within milliseconds, providing
nearly uninterrupted (99.999%) data availability. The software maximizes
use of system resources while requiring almost no hands-on administration,
resulting in much lower total cost of ownership.
Solid Information Technology is the twelfth strategic acquisition announced
by IBM in 2007. IBM's acquisition of Solid Information Technology supports
the company's growth strategy and capital allocation model, and it is
expected to contribute to the achievement of the company's objective for
earnings-per-share growth through 2010. Additionally, Solid Information
Technology will augment the company's software business, which currently
provides 20 percent of total sales and 40 percent of IBM's profit.
Hundreds of customers use Solid Information Technology software in over
three million deployments worldwide where high speed and high availability
are critical to their success. The software supports many consumer
applications and services in telecommunications, retail, finance,
healthcare, and other industries by allowing nearly instantaneous access to
data for mobile phones, Internet-based calling, online shopping, stock and
investment transactions, and other applications. The combination of IBM
and Solid Information Technology software will provide the technology and
resources to broaden the opportunity for Solid Information Technology
software.
IBM plans to integrate Solid Information Technology's product offerings
into IBM's Software Group as part of its Information Management Software division.
Solid Information Technology's software complements IBM's portfolio by
combining the speed and versatility of in-memory database technology with
the enterprise-wide scalability and persistence of IBM's disk-based data server
offerings -- DB2 and Informix Dynamic Server. This
combination will provide customers with real-time access to the information
they need in order to quickly respond to changing demands, rapidly
capitalize on new business opportunities, and improve business results.
"Customer demand for high speed, low-latency, reliable access to business
information is growing exponentially as organizations of all sizes strive
to ensure real-time access to enterprise data," said Ambuj Goyal, general
manager, IBM Information Management. "Together, IBM and Solid Information
Technology will provide a comprehensive set of capabilities that enable
companies to deliver trusted information in real-time to every person and
every business transaction."
"Solid Information Technology is pleased that our proven technology will
add strategic value and complement IBM's portfolio of world-class data
server products," said Sam Spadafora, chairman, Solid Information
Technology. "We look forward to continuing to serve our existing customers
while we also address the needs of a broader customer set, all of whom will
benefit from the fast, always-on database technology in which Solid
Information Technology has invested for the past 14 years."
IBM's acquisition of Solid Information Technology builds upon an existing
relationship between the companies. Solid Information Technology and IBM
already partner on information management solutions that provide advanced
capabilities to customers, including an offering for telecommunications
service providers that uses Solid Information Technology software and IBM
BladeCenter technology to deliver the performance, reliability, and
affordability demanded by mission critical telecommunications applications.
The acquisition is subject to customary closing conditions and is
anticipated to close in the first quarter of 2008.
The desire by businesses to access, manage and deliver information more
efficiently is driving rapid change in the information technology
marketplace. Companies grappling with government mandates and business
demands are striving to capture and integrate information in a more
seamless, real-time fashion across their enterprises. IBM's Information on
Demand approach combines industry-specific expertise with advanced
software, open standards and storage technology -- integrated via a
services oriented architecture -- to manage, secure, and deliver
information as a service to solve business challenges.
For more information, go to http://www-306.ibm.com/software/data