IBM Buy Sterling Commerce for $1.4 Billion
IBM Corp. has agreed to acquire Sterling Commerce Inc. in a $1.4 billion deal, the technology giant disclosed Monday.
IBM (NYSE: IBM), based in Armonk, N.Y., purchased Sterling Commerce from Dallas-based AT&T Inc. (NYSE:T). The deal is expected to close in the second half of the year.
Sterling Commerce, based in Columbus, Ohio, is a software and business-to-business tech business.
IBM spokeswoman Nancy Kaplan said there would be no job cuts tied to the acquisition.
“The idea is not only to get the intellectual property, but also to get the smart people that know the products,” she said.
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