Apr, 2001 : IBM to Pay $1 Billion Cash for Informix Unit

📅 April 24, 2001 - Computer hardware manufacturing giant International Business Machines Corp. (ibm.com) said on Tuesday that it will buy Informix Corp.'s database software business for a total of $1 billion in cash. The acquisition is intended to strengthen the company in its battle against rival software maker Oracle Corp.
IBM, a leading computer maker, is also one of the two largest makers of the software used to manage large corporate business operations, along with Oracle. The California-based company Informix was once a serious competitor for Oracle, but suffered hard times in the mid 1990s.
The Informix acquisition will give IBM one of the leading database systems used in data warehousing, business intelligence and transaction-handling systems. The system is used by more than 100,000 customers, including the phone companies Verizon Communications and Deutsche Telekom AG, and retailer Sears.
IBM says that following the acquisition, it will integrate the Informix software into the IBM database system, as well as integrating the Informix sales team into IBM?s. The company will also continue to support Informix customers.
According to IBM, the purchase of Informix will allow IBM to bring the benefits of leadership database technologies to more customers faster.
Following the deal, which is expected to close in the third quarter, Informix will be renamed Ascential Software, and maintain its remaining database applications business. The new company will join about 60 other application makers as one of IBM's strategic partners. Ascential will use the $800 million after-tax proceeds of the sale to fund its growth, and intends to use a substantial portion for a stock buy-back plan.

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