August 28, 2006 Timothy Prickett Morgan
The IBM software and services spending spree continues, and the company shelled out $1.3 billion in cold, hard cash last week to acquire Internet Security Services. ISS, the fourth big acquisition IBM has done in as many weeks, is based in Atlanta and is one of the big players in security advisories, software, and appliances.
ISS is a publicly traded company, and only two months ago its stock was trading down in the range of $18 a share after a hiccup caused, in part, by problems with its ERP system. IBM’s all-cash offer of $28 a share was only