This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IBM Makes $1.7B Move for Netezza

NEW YORK ( TheStreet) -- The data networking deals continue as IBM (IBM - Get Report) said Monday that it will pay $1.7 billion for Netezza (NZ).

The deal calls for IBM to pay $27 a share in cash for the data storage management and analytics shop, based in Marlborough, Mass.

The move comes after what has been an active month of deal talks in the wake of the 3Par (PAR - Get Report) bidding war sparked by Hewlett-Packard (HPQ - Get Report) and Dell (DELL - Get Report). Netezza shares have risen 62% in less than a month on speculation that it was being eyed as an acquisition target by one of the tech giants.

The Netezza/IBM deal immediately cooled the excitement around Radware (RDWR), which was thought to be in the sights of either IBM or HP. Radware shares dropped 2% and Netezza shares surged 12% to 27.55 in premarket trading Monday.

--Written by Scott Moritz in New York.



>To contact this writer, click here: Scott Moritz, or email: scott.moritz@thestreet.com.

To follow Scott on Twitter, go to http://twitter.com/TheStreet_Tech.

>To send a tip, email: tips@thestreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
DELL $0.00 0.00%
IBM $173.67 0.00%
HPQ $33.80 0.00%
PAR $4.42 0.00%
AAPL $128.95 0.00%

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs