IBM acquires DemandTec for $440M
IBM Corp. announced Dec. 8 that it bought analytics firm DemandTec for some $440 million, or $13.20 a share.
DemandTec, a publicly traded company based in San Mateo, Calif., specializes in strategic merchandising, marketing and trade planning for retailers and consumer products companies. It offers cloud-based analytics software that allows businesses to examine consumer trends and patterns.
IBM said the acquisition will strengthen its “Smarter Commerce” initiative, which strives to streamline business activity through technology solutions, by incorporating DemandTec”™s cloud-computing expertise.
The Armonk technology giant has estimated the market opportunity for its so-called Smarter Commerce solutions at $20 billion in software alone.
Between its West Coast headquarters and offices in Minneapolis, London, Paris and Bangalore, DemandTec employs more than 350 people.
The deal is subject to DemandTec shareholder approval and regulatory clearances, and is expected to close in the first quarter of 2012, IBM said.
Westchester Bank gets 5-star rating
In a Dec. 8 letter to shareholders, The Westchester Bank announced it had received a five-star “superior” rating by Bauer Financial Inc., a ratings agency that specializes in the analysis of banks and credit unions.
The Yonkers bank reported earnings of $965,000 through the first nine months of 2011, compared to earnings of $9,000 for the same period of 2010.
Other community banks with branches in Westchester that have received Bauer”™s top five-star rating include Apple Bank for Savings, Community Mutual Savings Bank, Webster Bank N.A., People”™s United Bank, Greater Hudson Bank N.A., New York Community Bank, Provident Bank and Signature Bank.
