IBM Buys Data Warehousing Appliance Maker Netezza For $1.7 Billion

Data warehouse appliance Netezza had been rumored to being close to getting acquired for quite some time, and this morning it turned out IBM is the one on the buying side.

Big Blue is acquiring the company in cash transaction at a price of $27 per share or at a net price of approximately $1.7 billion, after adjusting for cash.

Netezza, which boasts approximately 500 employees around the world, provides high-performance analytics in a data warehousing appliance.

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