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Industry: Email Alert RSS FeedIBM acquires Corio
Rethink IT, March, 2005
IBM is buying Corio, one of the only remaining application service providers from the dotcom boom.
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IBM will spend $182m for the company, most of whose competitors either went out of business, were acquired long ago, or became niche players focusing on just one application or industry. CEO George Kadifa will remain even though Corio is not profitable. The company's real value is likely to be its employees and software.
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