International Business Machines Corp. (IBM: Quote) said Wednesday that it has completed its acquisition of DemandTec.
In December, IBM agreed to buy DemandTec an all cash deal at a price of $13.20/share, or at a net price of about $440 million, after adjusting for cash.
The acquisition further extends IBM's Smarter Commerce initiative by adding cloud-based software to help companies drive profitability through measurable pricing, promotion, and assortment planning.
DemandTec also expands IBM's Software-as-a Service strategy by adding additional, subscription-based offerings to IBM's SaaS solutions portfolio.
About 350 DemandTec employees will join IBM's Software Group.
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by RTT Staff Writer
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