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IBM Completes Corio Acquisition.
2005-03-16, HostMan.biz IBM (ibm.com) announced on Wednesday that it had completed its acquisition of application management provider Corio (corio.com) for $182 million, first announced in late January. Corio provides a variety of infrastructure, software, application management and professional services. Its on demand application platform helps enterprises deliver software as a service and facilitates rapid application deployment and application management. IBM says the deal will strengthen its overall application services portfolio and enhance its application services capabilities for clients using Ariba, Epiphany, Oracle, PeopleSoft, SAP and Siebel software. The company also expects the purchase of Corio to help it automate inefficient IT tasks for its customers. "As enterprise applications become more complex and costly to manage, we see growing demand for application services," says Jim Corgel, general manager of small and mid-sized business at IBM Global Services. "IBM, with the new capabilities from Corio, is uniquely positioned to help clients navigate these challenges." |
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