IBM to buy CrossAccess
IBM to buy CrossAccess
IBM has announced it has signed an agreement to acquire CrossAccess Corporation, a company which makes software for accessing mainframe data, for an undisclosed amount. The deal is expected to be completed later this month.
CrossAccess is a provider of infrastructure software that enables corporations to access information stored in mainframe databases and make it available for use with new business applications. According to industry estimates, nearly 60 percent of corporate business information resides on mainframes today.
IBM said the acquisition further strengthens its enterprise information integration capabilities, a key strategic priority for its Data Management efforts and the company's on demand computing initiatives.
According to industry analysts, the market opportunity for business integration software is expected to exceed $10 billion by 2006. IDC also estimates that companies are now spending as much as 40 percent of their annual IT budgets on integration.
Upon completion of the acquisition, IBM plans to integrate CrossAccess' software assets and personnel into the Data Management Software group, which is led by General Manger, Janet Perna; market and sell CrossAccess technology worldwide through the IBM sales force, and integrate CrossAccess technology into IBM's DB2 Information Integrator software.
"Businesses today are faced with the challenge to drive more value from their existing information assets," said Perna. "With the addition of CrossAccess technology and its expertise in mainframe data access, IBM is bringing more value to customers faster in helping them leverage their information across and beyond the enterprise."
"IBM is the leader in helping customers implement an open information integration infrastructure," said George Langan, president, CrossAccess Corporation. "CrossAccess technology integrates seamlessly with DB2 Information Integrator, enabling businesses to access and integrate mainframe data with other information assets to realise productivity gains and enhance business insight."
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