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IBM to buy Sterling Commerce from ATT for $1.4 bn

IBM to buy Sterling Commerce from ATT for $1.4 bn
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First Published: Mon, May 24 2010. 05 42 PM IST
Updated: Mon, May 24 2010. 05 42 PM IST
New York: International Business Machines Corp (IBM) said on Monday it has agreed to buy business software integration services company Sterling Commerce from AT&T Inc for about $1.4 billion in cash.
AT&T said it expects to record a one-time gain of about $750 million in the quarter in which the transaction closes.
The companies said that more than 18,000 global customers use Sterling Commerce systems and services, and that it enables more than 1 billion business interactions a year for its clients.
Following the close of the acquisition, which is expected in the second half of 2010, the approximately 2,500 Sterling Commerce employees will be integrated into the WebSphere organization within IBM’s Software Group.
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First Published: Mon, May 24 2010. 05 42 PM IST
More Topics: IBM | Sterling Commerce | AT&T | Corporate News | MAs |