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Peregrine buys parts of Tivoli for $105 mln

Peregrine Systems, Inc. (Nasdaq: PRGN) said Monday it would spend $105 million to buy parts of IBM's Tivoli Systems unit as part of an alliance to strengthen integration of the companies' products.

Shares in Peregrine, a maker of infrastructure management software, were down 0.75 to 20 Monday morning.

Peregrine will buy the Tivoli Service Desk suite of products and certain related assets for $105 million, including cash and about 3 million shares. Peregrine said the deal is not expected to change earnings per share from current estimates for fiscal year 2001.

The transaction is structured as an asset purchase and accounted for using the purchase method of accounting.

Peregrine also announced it is expanding its marketing and sales relationships with the services operation of IBM (NYSE: IBM). The companies have been business partners for more than six years.