IBM To Buy StreamSets, WebMethods Platforms From Software AG In EUR 2.13 Bln Cash Deal

(RTTNews) - Tech major International Business Machines Corp. (IBM) announced Monday that it has entered into a definitive agreement to buy StreamSets and webMethods from Software AG (STWRY.PK), a company majority owned by Silver Lake, for 2.13 billion euros in cash.

StreamSets and webMethods are Software AG's Super iPaaS (integration platform-as-a-service) enterprise technology platforms. StreamSets and webMethods serve more than 1,500 clients across the globe.

IBM said StreamSets and webMethods will be acquired with available cash on hand. The consummation of the deal is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in the second quarter of 2024.

IBM noted that StreamSets and webMethods are among the technology leaders in application integration, API management, and data integration. As per IDC, the worldwide integration software market will exceed $18 billion in 2027 at a compound annual growth rate of 16.1%.

The company noted that Software AG's Super iPaaS platform is growing, profitable and has a significant recurring revenue profile.

IBM said the acquisition is further evidence of its deep focus and investment in AI and hybrid cloud. StreamSets will add data ingestion capabilities to watsonx, IBM's AI and data platform. webMethods will give clients and partners additional integration and API management tools for their hybrid multi-cloud environments.