Cravath Advises IBM In $1.7B Deal For Netezza

Law360, New York (September 20, 2010, 3:28 PM EDT) -- IBM Corp. announced Monday that it has agreed to acquire Massachusetts-based data warehouse company Netezza Corp. for $1.7 billion.

IBM agreed to pay $27 for each share of Netezza, a 9.8 percent premium over Netezza's $24.60 closing price on Friday, according to a joint statement from the companies.

The deal requires approval from Netezza shareholders and clearance from regulators. It is expected to close in the fourth quarter of this year, the companies said.

Netezza's products include a data warehousing application that can handle complex analytic...
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