 IBM is hoping to expand its business intelligence arm |
Computer giant IBM is to buy software firm Cognos for $5bn (�2.4bn), in a bid to grow its presence in the business intelligence software market. Business intelligence software is aimed at helping large companies analyse information for complicated issues such as strategy or staffing.
Other firms growing their business intelligence software include SAP, which is set to buy Business Objects.
IBM proposes to pay $58 for every share of Canadian-based Cognos.
'Complete solutions'
IBM and Cognos, which employs 4,000 people worldwide, already have an existing business relationship.
 |  We chose Cognos because of its industry-leading technology that is based on open standards |
The purchase, expected to close in the first quarter of 2008, needs approval from Cognos shareholders.
"Customers are demanding complete solutions, not piece parts, to enable real-time decision making," said Steve Mills, senior vice president at the IBM Software Group.
"We chose Cognos because of its industry-leading technology that is based on open standards."
IBM shares rose 1% to $101.27 on the news.
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