IBM Reaches Agreement To Acquire Coremetrics
IBM reaches agreement to acquire CoremetricsIBM announced a definitive agreement to acquire Coremetrics, a leader in web analytics. Coremetrics, a privately held company based in San Mateo, CA, will expand IBM's business analytics capabilities by enabling organizations to use a cloud-based delivery model to gain real-time insight into consumer interactions internally and through social media networks to develop faster, more targeted marketing campaigns.
Through Coremetrics, IBM is gaining the ability to help businesses rapidly gain intelligence into social networks and online media sources through a cloud-based delivery model and incorporate this insight into their business processes to create smarter, more effective marketing campaigns.
Today, Coremetrics delivers web analytics capabilities to more than 2,100 global brands across a wide range of industries including retail, financial services, media and publishing, travel and hospitality and education. Customers include Holiday Inn, PETCO, 1-800 Flowers, Office Depot, Victoria's Secret, Virgin Atlantic Airways and Seton Hall University.
Coremetrics' offerings enable more effective marketing campaigns that can provide real time intelligence on what consumers are saying about products and services being offered to them, and allow clients to make fact-based, accurate decisions on marketing expenditures. As a result, marketing teams can gain deeper insight about their consumers and present personalized recommendations, promotions and other sales incentives across a variety of channels where the consumers interact with their brand. These channels span traditional outlets such as storefronts and catalogs and newer outlets including all forms of eCommerce and social media.
Coremetrics offerings are a new addition to IBM's business analytics portfolio. By acquiring Coremetrics, IBM will be able to deliver powerful new business analytics solutions, with the web analytics capabilities clients need to help measure the effectiveness of their marketing campaigns and understand the shopping habits, likes and dislikes of their customers. In addition, Coremetrics software complements IBM's existing software and services portfolio of offerings from WebSphere, information management and business analytics and optimization. Upon closing, the company will become part of IBM's application and integration middleware portfolio which provides the backbone of transaction processing on the Web and powers many of the world's leading retail sites. Through Coremetrics, IBM is gaining the ability to help businesses empower their marketing professionals to automate and optimize their marketing processes to create the greatest possible return on their marketing expenditures.
Consistent with IBM's software strategy, IBM will continue to support and enhance Coremetrics' technologies and clients while allowing them to take advantage of the broader IBM portfolio. Coremetrics' approximately 230 employees will be integrated into IBM. The deal is expected to close in the third quarter of 2010, subject to regulatory approvals and the satisfaction of other customary closing conditions.
SOURCE: Coremetrics