Technology Industry
Industry: Email Alert RSS FeedIBM plans to buy MRO Software for $740 million.
Control Engineering, September, 2006
Staff
IBM announced plans to acquire MRO Software Inc., a publicly held company based in Bedford, MA, in a cash transaction of approximately $740 million. The acquisition (subject to MRO Software shareholder, regulatory reviews, and other customary closing conditions) is expected to close in fourth-quarter 2006.
MRO's asset and service management software and consulting helps companies manage how they buy, maintain, and retire assets, such as production equipment, facilities, transportation, and information technology (IT) hardware and software. Industries include utilities, manufacturing, energy, pharmaceutical, and telecommunications. MRO Software has produced double-digit growth since the company reported revenues of $199.2 million for the fiscal...
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