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IBM says it is buying DemandTec, a price-management software company, for $440 million in cash to expand its commerce service offerings.

International Business Machines Corp. said Thursday that it is paying $13.20 per share for San Mateo, California-based DemandTec Inc. That's a 57 percent premium to DemandTec's closing stock price of $8.43 on Wednesday.

IBM, which is based in Armonk, New York, says the deal will help expand its "smarter commerce" business that help companies set the best prices and choose the best product mix based on customer buying trends.

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