IBM buys security analysis software company i2

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Associated Press

Posted on August 31, 2011 at 4:01 PM

Updated Wednesday, Aug 31 at 4:01 PM

ARMONK, N.Y. (AP) — IBM Corp. on Wednesday said it had agreed to buy i2 Group, a British company that sells software for intelligence analysis and fraud prevention.

Terms were not disclosed. The seller is investment fund Silver Lake Sumeru, which bought i2 from ChoicePoint Inc. in 2008 for $185 million.

I2 has 350 employees. It's based in Cambridge and has offices in McLean, Va.; Tucson, Ariz.; Ottawa, Ontario; and Canberra, Australia.

IBM expects the deal to close in the fourth quarter.

A separate company with a similar name, i2 Technologies, was acquired by JDA Software Group Inc. on 2010.

IBM shares rose 21 cents to $172.72 in midday trading.

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