NEW YORK (TheStreet) -- IBM (IBM) has acquired Xtify, a mobile messaging platform specializing in rich-content texts and push notifications. Xtify software has the ability to trigger messages depending on time or geographic location, as well as demographic data. The company was purchased for an undisclosed amount.
"Xtify's mobile messaging capability combined with IBM's analytics and cloud infrastructure will provide marketers with global reach and an arsenal of rich content," said Xtify CEO Josh Rochlin in a statement.
IBM says Xtify will support operations in its MobileFirst software and Smarter Commerce divisions, both of which offer mobile advertising solutions to its business customers.
"The acquisition of Xtify provides new ways for our clients to foster a direct, one-to-one communication channels with their customers," said Kevin Bishop, IBM Vice President for Digital Marketing.
The acquisition comes two days after IBM announced it had purchased mobile analytics company The Now Factory, financial terms of which have not been made public. IBM said this is a step forward in its long-term strategy to monetize big data and analytics, an area of business it expects will generate $20 billion in revenue by 2015.
IBM shares dropped 0.59% to close Thursday trading at $183.86. The S&P 500 was down 0.75%.
TheStreet Ratings team rates IBM as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate IBM a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income." Highlights from the analysis by TheStreet Ratings Team goes as follows: