IBM to pay $1.3b for Internet Security Systems

Brief
SSN Staff  - 
Sunday, October 1, 2006

ARMONK, N.Y.--IBM announced in late August a definitive agreement to purchase the Atlanta-based Internet Security Systems, Inc., for approximately $1.3 billion, or $28 per share. The deal is subject to ISS shareholder and regulatory approvals, but is likely to represent the fifth largest acquisition in IBM history.
ISS provides security solutions to thousands of companies and governments worldwide, protecting against Internet-based threats across networks, desktops and servers. ISS software, appliances and services monitor network vulnerabilities. According to a press release from IBM, this "acquisition advances IBM's strategy to utilize IT services, software and consulting expertise to automate labor-based processes into standardized, software-based services."
"Companies recognize that rapidly evolving security threats and complex regulatory requirements have turned security into a mission-critical priority," said Val Rahmani, general manager of infrastructure management services at IBM Global Services, in the statement.