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IBM to buy Web analytics company Coremetrics

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Armonk, N.Y.—IBM Corp. announced Tuesday that it plans to acquire Web analytics and marketing optimization company Coremetrics Inc. Financial terms of the deal, expected to close in the third quarter, were not disclosed.

The acquisition of Coremetrics would further expand IBM’s software and services business, in particular in the area of marketing analytics and reporting. Last fall, IBM bought predictive analytics company SPSS Inc. for $1.2 billion in cash, acquiring in the process software that helps companies analyze and forecast marketing and product trends.

San Mateo, Calif.-based Coremetrics serves 2,100 companies internationally, Including Bank of America, Office Depot and Virgin Atlantic, providing Web and mobile analytics solutions, targeted e-mail and ad tracking.

IBM said it will blend Coremetrics’ 230 employees into its own operations.

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