/>
X

Cognos shareholders approve IBM takeover

The takeover of the business-intelligence company is now expected to close before the end of this quarter
suzanne-tindal.jpg
Written by Suzanne Tindal on

IBM's takeover of business-intelligence company Cognos is expected to close before the end of this quarter, after Cognos shareholders voted their approval of the deal on Monday.

The takeover deal was approved by 99.8 percent of the shareholders at the meeting or voting by proxy. Outstanding shares will be purchased by IBM at the price of $58 (£30) per share.

There is still one more hurdle before IBM can swallow Cognos: the approval of the deal by the Ontario Superior Court of Justice, which is expected to be sought today in Toronto.

IBM intends to integrate Cognos as a group, led by Cognos chief executive Rob Ashe, within its information-management software division, focused on business intelligence and performance management.

Related

Apple politely explains why iPhone cases are a waste of money
Apple iPhone 13 Pro Max

Apple politely explains why iPhone cases are a waste of money

Apple
The 8 best iPhone models of 2022
iphone-12-models.png

The 8 best iPhone models of 2022

iPhone
Delta Air Lines just made a callous admission that customers may find galling
screen-shot-2022-07-18-at-5-18-46-pm.png

Delta Air Lines just made a callous admission that customers may find galling

Business