News
IBM Digests CrossWorlds
IBM Corp. saidyesterday it had completed its acquisition of CrossWorlds Software Inc.CrossWorlds makes integration software for WebSphere targeted at specificbusiness needs.
IBM announcedits plans to purchase CrossWorlds last October, stating it was a way tobetter reach its customers in certain vertical industries. IBM and CrossWorldshad been partners for four years before Big Blue bought the company.
At closing, the deal is valued at $129 million, andCrossWorlds will be integrated into IBM Software Group. Some of IBM’sacquisitions have soldiered on as relatively independent companies like Lotus DevelopmentCorp. and Tivoli Systems Inc.
As it announced the completion of the deal, IBMtrumpeted statistics from IDC on business-process integration software.According to IDC, software targeted at specific business processes will be thefasted growing segment of the infrastructure software market. IDC expects thesegment to grow to $4 billion by 2005.—ChrisMcConnell