IBM has signed a definitive agreement to acquire the software assets of CrossAccess Corporation, a privately held company in Santa Clara, California. The acquisition is expected to close later this month. Financial details were not disclosed.
CrossAccess is a provider of infrastructure software that enables corporations to access information stored in mainframe databases and make it available for use with new business applications. According to industry estimates, nearly 60 percent of corporate business information resides on mainframes today.
Industry analysts say the market opportunity for business integration software is expected to exceed $10 billion by 2006. Estimates also suggest that companies are now spending as much as 40 percent of their annual IT budgets on integration.
According to a statement, the acquisition will further extend IBM’s information integration capabilities, which help companies manage all forms of information across their enterprise.
IBM’s DB2 Information Integrator software enables organisations to build on their existing IT infrastructure and reduce the time and costs associated with integrating their diverse data environments. With CrossAccess technology integrated into DB2 Information Integrator software, IBM will be able to deliver the most comprehensive enterprise information integration infrastructure in the industry.
Once the acquisition is completed, IBM plans to integrate CrossAccess’s software assets and personnel into the Data Management Software group and to market and sell CrossAccess technology worldwide through the IBM sales force.