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by Stephanie Neil, MA Editorial Staff
Posted on Thursday, August 03, 2006 5:01:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox   IBM today disclosed plans to acquire MRO Software Inc., an enterprise asset management market leader and partner that has helped some of the largest manufacturing and utility companies manage industrial, fleet, and IT-based assets. IBM will pay $740 million in cash for MRO, or $25.80 per share, a healthy premium on the company's opening share price today of $21.60. MRO's stock closed the day at $25.46, up almost 18% in intra-day trading on news of the proposed transaction. The deal, pending regulatory and shareholder approval, is expected to close in the fourth quarter, with all key MRO management and staff retained and MRO's Bedford, MA, headquarters remaining open for the foreseeable future, operating as part of IBM's Tivoli systems management business unit, IBM said. [Click to continue]  |
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