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January 26, 2005
IBM acquires Corio
Crain's New York reports that IBM will acquire California-based software management firm Corio for $182 million in cash as part of an attempt to expand its market reach to small- and mid-sized firms. InternetNews.com, for its part, views the move as another "on-demand" play for IBM.
Interestingly, the article hints indirectly that the Oracle-PeopleSoft deal may have tipped IBM's hand. IBM spokespersons, though, denied the possibility: "The timing of the acquisition, coming as it did after Oracle succeeded in its hostile takeover of rival enterprise application provider PeopleSoft, was coincidental... The deal was in the works long before Oracle took over PeopleSoft."
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