September 14, 2007
IBM said Friday that it has completed its acquisition of Princeton Softech, a privately held company that provides data archiving, privacy and data classification and discovery software. Financial details were not disclosed.
IBM said the deal will bolster its companywide "Information on Demand" initiative, giving it software that enables customers to more easily manage information stored in databases by segregating out historical files while maintaining an archive of critical data that can be accessed in real-time. IBM initially announced its intent to acquire Princeton Softech in August. The company employs 240 workers and has more than 2,200 customers, including Metropolitan Life, American Airlines, and British Telecom. IBM said it plans to integrate Princeton Softech's product offerings into its Software Group as part of its Information Management Software division, which is run by general manager Ambuj Goyal. "Organizations of all sizes worldwide face the challenge of effectively managing their surging data volumes," said Goyal, in a statement. IBM has acquired more than 20 middleware vendors under chief executive Sam Palmisano, who is reshaping the company as a provider of business and tech services and of the underlying software on which those services run. Other IBM software acquisitions under Palmisano include the buyouts of FileNet, MRO Software, and Internet Security Systems. Last month, the company acquired WebDialogs, a provider of Web conferencing and communications software. In afternoon trading Friday, IBM shares were relatively flat at $115.35 per share.
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