MRO Software to be Acquired by IBM for $740 Million - Bedford, MA

MRO Software, a Bedford-based provider of business asset management software, has agreed to be acquired by information technology giant IBM for $740 million in cash. "In a recent IBM study, 40% of CEOs indicated that asset utilization would be a key focus in strengthening financial performance," said Al Zollar, general manager, IBM Tivoli software, commenting on the deal. "MRO software is a powerful addition to IBM's portfolio of software and services," he said. MRO has approximately 900 employees and more than 300,000 end users.

http://www.mro.com/corporate/mro/news_press_ibm.php