Saturday August 05, 2006

IBM to buy MRO Software for $740 million

news.yahoo.com :

International Business Machines agreed to buy MRO Software for $740 million, giving IBM a niche provider of software and services to help customers including nuclear power plants and oil companies make the most efficient use of industrial assets. No cuts are expected to MRO's work force of more than 900 as a result of the acquisition.

MRO's customer list includes nuclear power plant operators and utilities as well as such companies as Exxon Mobil, BP, China National Offshore Oil Co, Frito-Lay, Ford and General Motors. MRO, founded in 1968, reported revenue of $199 million in its most recent fiscal year.

- Interesting story in more than one way. Big money moving into the energy sector. Ongoing merger mania.

(2006-08-05 19:29:22 SGT) [Biz] Permalink

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