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IBM snaps up analytics appliance maker Netezza

Monday, September 20, 2010

$1.7bn cash paid for $250m business

IBM announced it is acquiring data warehousing appliance specialists Netezza, with a price tag of $1.7bn that shows how keen Big Blue was to get its hands on the firm, which has around a $250m-a-year revenue run rate.

Netezza's most recent quarter saw revenue of $64m, up 64% year on year, enabling it to raise its guidance for the year and expect 30% annual growth when its year-end figures are counted.

Article sourced from www.cbronline.com, click here to read full story.


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