IBM to buy Telelogic, Swedish software company
IBM says it will buy Telelogic AB, a Swedish software company, for about $745 million. Telelogic provides software development solutions and has more than 8,000 customers worldwide, primarily in aerospace and defense, telecommunications and automotive industries. Headquartered in Malmö, Sweden, with U.S. headquarters in Irvine, Calif., Telelogic has more than 1,100 employees and operations in 22 countries. Last year, the company reported revenues of approximately $208 million.
Telelogic products help organizations define, model, build, test, deliver and govern the development of software used in complex systems such as aircraft radar or automobile anti-lock braking systems.
“From today’s next generation entertainment devices to tomorrow’s space-information systems, software is the lifeblood of complex systems,” said Dr. Danny Sabbah, general manager, IBM Rational Software. “IBM’s acquisition of Telelogic will complement our entire portfolio to help our clients drive efficient and effective software development processes that are vital to product delivery.”
“This acquisition will provide our clients with enhanced capabilities to develop and deploy complex systems on a global basis,” said Anders Lidbeck, president and CEO, Telelogic. “IBM and Telelogic clients will be able to leverage a broader set of capabilities without the need to replace existing systems.”
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.