IBM to Buy Software AG's AI and Cloud Businesses for $2.3 Billion
• IBM to acquire Software AG's AI and cloud platforms for $2.3 billion in an all-cash deal
• Aims to strengthen IBM's capabilities in AI and hybrid cloud offerings
• Software AG is 93.3% owned by Silver Lake private equity firm
• Deal expected to close in Q2 2024
• Part of IBM's strategy to enhance AI and cloud through M&A