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IBM to buy software company Micromuse.
2005-12-21, HostMan.biz IBM on Wednesday said it would buy software developer Micromuse Inc. for $865 million, filling a gap in its Tivoli line of software that businesses use to manage large computer networks. Micromuse specializes in software that manages sophisticated communications networks. Tivoli competes with products from companies including Computer Associates International Inc.,Hewlett-Packard Co. and BMC Software Inc.. International Business Machines Corp. will pay $10 for each Micromuse share, a premium of nearly 39 percent over the stock's closing price of $7.21 on Nasdaq stock market Tuesday. IBM has announced 11 acquisitions of software companies this year and nearly 40 in the past five years. It is adding new products and functionality to its line of business software as customers seek to get more out of every dollar they spend on information technology. "Software companies all want to be able to offer more product and more value for the same price," said Richard Petersen, a software analyst with Pacific Crest Securities. Micromuse focuses on what has been a niche segment of the software market -- programs that manage complex systems that carry telephone calls, Internet traffic, video and other communications. IBM already sells Micromuse software through a joint venture with Micromuse. Buying Micromuse will give the computer giant a bigger presence in a rapidly growing area of the software industry, said Steve Mills, an IBM senior vice president who runs the company's software business. The acquisition fills a gap in IBM's Tivoli line, he said. "To a large degree, this completes a set of monitoring tools that we've been building for years," he added. Products from companies like Micromuse were once sold almost exclusively to phone companies. But demand has expanded in the past few years as advances in communications technology using Internet standards have prompted large corporations to develop telecommunications networks to link operations around the world. The IBM-Micromuse deal will make things more competitive for Computer Associates and BMC, Petersen said. BMC sells software that competes with Micromuse, and in April Computer Associates agreed to buy Concord Communications Inc., a Micromuse rival. In its most recent year, Micromuse booked revenue of $161 million, a tiny fraction of IBM's $18 billion in annual software revenue. On Tuesday, IBM announced the acquisition of another business software developer, Bowstreet Inc., whose products help companies develop internal Web portals. Mills said in an interview that IBM is looking to buy more software companies, though he declined to discuss specifics. He wouldn't say whether the pace of acquisitions will pick up or slow down. Petersen said IBM isn't the only big company looking for software. "There are too many competitors and an overcapacity," he said. Micromuse has some 1,800 customers, including some of the world's largest phone companies -- British Telecom, Deutsche Telecom and Verizon. It also sells to Fidelity Investments, NCR Corp., the U.S. Securities and Exchange Commission, and Virgin Atlantic. IBM said it hoped to complete the acquisition within 60 days. |
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