Tivoli Systems acquires Unison
In a $170 million stock deal, IBM subsidiary Tivoli Systems fills holes in its suite of systems and application management software by nabbing Unison Software.
Tivoli gains software technology that allows network managers to schedule computing and administrative tasks across their layouts. Unison has already developed Tivoli's TME Framework, a set of APIs (application programming interfaces) that are offered to third parties who want to build applications on top of Tivoli's software.
The merger deal is subject to approval from shareholders. Under terms of the exchange, each share of Unison Software stock will be converted to $15 in cash or IBM stock.
Tivoli officials said the deal would not affect relationships the company has with third parties who offer similar software. "We share a vision and a common corporate culture," said Don Lee, Unison's chairman and CEO.
Additionally, Tivoli officials said they expect all of the approximately 225 Unison employees will retain their positions.
The $40 million Unison is headquartered in Santa Clara, California, with a satellite office in Austin, Texas, home of Tivoli.