IBM closes acquisition of software company i2
IBM Corp. said Wednesday that it has completed its acquisition of i2 Group, a British company that sells software for intelligence analysis and fraud prevention.
Financial terms were not disclosed. IBM bought i2 from Silver Lake Sumeru, which had acquired i2 from ChoicePoint Inc. in 2008 for $185 million.
IBM said the acquisition expands its analytics software for big sets of data used by public and private entities in government, law enforcement, retail, insurance and other industries to analyze information in cities.
"In recent years, IBM has seen growing interest in analytics technology as a tool for protecting cities in terms of both public safety and corporate security," IBM said in a statement. I2's roughly 350 employees will join IBM.
A different company with a similar name, i2 Technologies, was acquired by JDA Software Group Inc. on 2010.
Shares of International Business Machines Corp. rose 53 cents to $175.27 in morning trading Wednesday.