IBM Buying Cognos For 5 Billion US

Cognos had been the subject of takeover speculation the past month, with Microsoft Corp. and IBM identified as the most likely suitors. At the beginning of October Germany's SAP AG said it would spend $6.8 billion US to buy Cognos' competitor Business Objects SA, leaving Cognos as the last independent business-intelligence software company of its size in the world. The offer is subject to Cognos shareholder approval, regulatory approvals and is expected to close in the first quarter of 2008. Cognos has approximately 4,000 employees around the world and more than 25,000 customers. IBM and Cognos have partnered for more than 15 years with joint customers that include the New York City police department and Canadian Tire. Cognos reported revenue of about $1.1 billion in 2006. The $4.2-billion market cap company's previous 52-week high was $53.38 on Jan. 29 with a low of $38.17 on Aug. 16. http://www.canada.com/topics/news/story.html?id=758bf61b-86ca-4584-831c-4f4f3537f669 [Editor's note - could have saved $400 million if they paid in Canadian. DrC] [Proofreader’s note: this article was edited for spelling and typos November 13, 2007]

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