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ARMONK, N.Y. - 14 Jan 2002: IBM today announced the completion of its $129 million acquisition of CrossWorlds Software, Inc., ten weeks after reaching a definitive agreement to purchase the Burlingame, California-based company.
The acquisition was completed on Friday after the market closed.
The addition of CrossWorlds builds on IBM's industry leading middleware offerings and extends the unparalleled breadth of IBM's WebSphere e-business infrastructure software that helps customers develop, deploy, integrate and automate their e-business applications. CrossWorlds will be integrated into IBM immediately as a strategic component of IBM Software Group, a $13 billion business in 2000.
CrossWorlds is a leading provider of software enabling companies to automate business processes that integrate multiple applications, such as those for managing customer relationships and supply chains, as well as to integrate business processes unique to individual industries such as telecommunications, financial services and industrial sectors.
"With this acquisition complete, IBM has the industry's most complete range of integration technologies,'' said Ambuj Goyal, general manager, Solutions and Strategy, IBM. "Customers can now benefit from increased operational efficiency with the integration of multiple applications through shared business processes.''
IDC estimates that software supporting the unique business-process integration requirements of specific industries, such as provided by CrossWorlds, represents the fastest growing sub-segment of e-business infrastructure software with an annual growth of 25 percent. Combining IBM's existing WebSphere messaging integration software and CrossWorlds' process integration offerings ensures that IBM is positioned to take continued advantage of a market opportunity estimated by IDC at $4 billion by 2005.
Based on a four-year business partner relationship, many IBM WebSphere offerings and CrossWorlds products are connected or integrated today. These technologies are in production at client sites, including the Whirlpool Corporation, Caterpillar and Siemens. IBM will be making significant investments in CrossWorlds' product development and go-to-market capabilities as it is integrated with the IBM Software Group operations.
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