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Edition: U.S. Article Comments (0) Email Print Reprints Read Broncos receiver McKinley dies of apparent suicide 1:30am EDT Analysis: Swedish rout highlights European socialist crisis 20 Sep 2010 Analysis: Swedish government seeks way to exclude far-right 19 Sep 2010 Japan urges nationalism avoided in China sea row | Video 3:03am EDT Bristol Palin parodies mom on "Dancing with Stars" 1:30am EDT Shared U.S. Nuclear Weapons Have Been Compromised by Unidentified Aerial Objects PR Newswire 15 Sep 2010 Dementia costs hit $604 billion in 2010 12:33am EDT Yahoo Spreads its Wings with 'Chicken Coop' Data Center 20 Sep 2010 Recession ended in June 2009: NBER | Video 20 Sep 2010 Conoco reports flaring at Wilmington refinery -filing 20 Sep 2010 Watched Soros: Gold "not safe" Wed, Sep 15 2010 Lohan's warrant, Hilton's plea Mon, Sep 20 2010 The week ahead Fri, Sep 17 2010 NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here. Special report Welcome to Nokia, Mr. Elop The biggest cellphone company in the world has spent the past few years searching for a way to take on Apple and RIM. Now it has turned to an unknown Canadian with no background in mobiles. Can Stephen Elop make Nokia cool again? Full Article Factbox: Key problems facing new Nokia CEO IBM to buy analytics company Netezza for $1.7 billion Tweet This Share on LinkedIn Share on Facebook Related News UPDATE 4-IBM to buy analytics company Netezza for $1.7 bln Mon, Sep 20 2010 Qatalyst advised Netezza, UBS advised IBM - source Mon, Sep 20 2010 IBM CEO blasts HP, defends "old-fashioned" image Tue, Sep 14 2010 UPDATE 1-IBM CEO blasts HP, defends 'old-fashioned' image Tue, Sep 14 2010 HP wins 3PAR for $2.4 billion as Dell drops out Thu, Sep 2 2010 Related Topics Technology » Deals » Hot Stocks » Asian Markets » Inflows Outflows » Media » A man walks past the headquarters of IBM Japan in Tokyo March 18, 2010. Credit: Reuters/Toru Hanai By Ritsuko Ando NEW YORK | Mon Sep 20, 2010 8:25pm EDT NEW YORK (Reuters) - IBM, joining the deal-making frenzy, plans to buy data analytics company Netezza Corp for $1.7 billion to expand in technology services and help clients better analyze market information. IBM agreed to pay $27 per share for Netezza, the companies said on Monday, a 10 percent premium from Friday's closing price of $24.60. Netezza's stock rose 14.9 percent on Monday to close at $28.27, slightly above the offer price. Some analysts said another offer could emerge, given a recent resurgence of dealmaking in the sector, including a bidding war between Hewlett-Packard Co and Dell Inc over data storage company 3PAR Inc. "As such, we recommend investors to keep their position rather than sell with the idea that another bidder may appear," said Roth Capital Partners analyst Nathan Schneiderman. Veteran technology banker Frank Quattrone's Qatalyst Group, which advised 3Par, also advised Netezza, according to a source familiar with the situation. The latest deal comes as International Business Machines Corp is shifting its focus from increasingly commoditized hardware to higher-margin software and services, particularly analytics, which help clients analyze market data to plot trends or prevent fraud. Marlborough, Massachusetts-based Netezza sells appliances that combine analytical software and hardware to help, for example, online dating site eHarmony comb through online profiles and massive Web data to figure out who might be a good match for a particular user. IBM said analytics, which accounted for about $9 billion of IBM's $95.76 billion in revenue last year, was a significant growth opportunity for the company. IBM employs 6,000 analytics consultants, while Netezza has 500 employees. IBM's offer raised speculation that other data analytics companies such as Teradata Corp could be targeted next. An IBM executive said it chose Netezza due in part to its ability to analyze online data quickly. The two companies also are partners, with Netezza using IBM hardware. "Speed is critical," said Arvind Krishna, general manager of information management at IBM. "Clients don't have the patience to wait for weeks." Other Netezza customers include retailers as well as financial exchange operator NYSE Euronext. QUATTRONE Quattrone's involvement could be another reason investors might expect Netezza to attract a higher offer. Quattrone was widely credited with creating a bidding frenzy over an obscure and unprofitable data storage company. HP ultimately won the deal with a premium that many analysts said was unreasonably high. Qatalyst did not respond to requests for comment. Jayson Noland, an analyst at Robert W. Baird, said companies such as Dell, HP, NEC Corp and SAP AG could also step forward for Netezza. "We assume these firms have already discussed this opportunity with bankers," he said. Others, however, were more cautious about a rival bid. Dell may be smarting from its loss against HP over 3PAR while HP may be giving its wallet a rest, some said. HP followed the 3PAR deal with a $1.5 billion offer for security company ArcSight, "It is going to be a stretch for HP to get into this bidding," said Morningstar analyst Sunit Gogia. Last month saw an unseasonable burst of deal making, including Intel Corp's agreement to buy McAfee Inc for $7.7 billion. Thomson Reuters data showed total announced deals of $262 billion in August, the highest for the month since 1999. With low interest rates, record cash holdings and low stock values, analysts say more deals are likely. Another trend driving deals in technology is the ambition among large vendors to become one-stop shops selling everything from networking and servers to software and services. IBM said in May that it planned to spend about $20 billion in acquisitions through 2015 to expand its software and services business. IBM's top rivals include HP, Oracle Corp and Cisco Systems Inc, all of which have announced new services and acquisitions in an effort to offer a broader set of technology services to clients. Analysts also said they expected the deal to spark interest in other data analytics companies including Teradata and smaller, privately owned companies such as ParAccel and Vertica. Teradata shares closed up, $2.59, or 7.5 percent, at $37.05. Netezza, which also makes data warehouse and monitoring equipment, reported fiscal second-quarter revenue of $63.8 million last month, up 45 percent from a year earlier. It also raised its full-year revenue forecast, a rare move in a sector fretting about a possible double-dip in technology spending. Many of IBM's recent acquisitions have been small, low-key deals. Chief Executive Samuel Palmisano said last week that IBM buys companies at "reasonable valuations" and criticized HP's $2.4 billion acquisition of 3PAR as well as its $1.5 billion deal to buy security technology company ArcSight Inc. IBM's offer for Netezza values it at over six times its expected revenue for 2010, a healthy valuation in the tech industry where anything over five is considered high, but lower than the multiple of around nine times that HP offered 3PAR. IBM shares closed up $1.60, or 1.2 percent, to $131.79. The companies said they expected the deal to close in the fourth quarter. The merger agreement includes a termination fee of $56 million, according to a regulatory filing. (Reporting by Ritsuko Ando and Nadia Damouni; Additional reporting by Liana B. Baker; Editing by Lisa Von Ahn, Andre Grenon, Richard Chang and Carol Bishopric) Technology Deals Hot Stocks Asian Markets Inflows Outflows Media Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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