The acquisition would follow similar moves in the same market this year. SAP recently linked up with Business Objects for $7 billion and Oracle grabbed Hyperion Solutions for $3.3 billion. Cognos shares had soared recently on expectations that it, too, would be acquired. They leaped an additional 8 percent on Monday’s news.
Business-intelligence software helps big organizations gather data in “dashboards” that can be used to model such things as the financial impact of staffing changes or marketing moves.
Cognos shares rose $4.17, or 7.9 percent, to close at $57.15 Monday. IBM shares rose 1.2 percent, or $1.20, to end at $101.45.
$10M in prizes for best software
Google is offering $10 million in prizes for people who build the best software to enhance the company’s upcoming cellphone operating system.