IBM to Buy Privately Held Enterprise Software Maker, Lombardi
IBM to Buy Privately Held Enterprise Software Maker, Lombardi
Posted 12/17/2009 at 5:42am
| by Paul Lilly
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IBM on Wednesday said it has signed a definitive agreement to acquire Lombardi, a privately held software company out of Austin, Texas which provides Business Process Management (BPM) software and services.
"Any discussion on business improvement inevitably leads to improving the processes that are at the heart of every company," said Craig Hayman, general manager, IBM Application and Integration Middleware. "Recognizing this, IBM has strengthened its presence and investments in business process and integration software to meet these growing client demands. Lombardi fills out our company's portfolio in this key area."
According to market research firm IDC, the market for BPM software will scale to $3 billion by 2018, up from $1.7 billion this year and representing a compounded annual growth rate of almost 15 percent.
Financial terms of the deal were not disclosed.
Image Credit: IBM
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