IBM Pays $5 Billion for Cognos (COGN)

IBM (IBM) said today that it was buying business intelligence company Cognos (COGN) for about $5 billion. The move takes IBM deeper into the software business and moves it away from its traditional hardware roots.

The acquisition of Cognos supports IBM’s Information on Demand strategy, a cross-company initiative announced on February 16, 2006 that combines IBM’s strength in information integration, content and data management and business consulting services to unlock the business value of information

Douglas A  McIntyre