IBM Acquires Candle Corp
Thursday, April 1st, 2004
IBM issued a press release this morning announcing its agreement to acquire Candle Corporation. Details here and here. (FYI - Both news blurbs appear to be the same).The acquisition makes a lot of sense from both sides of the picture. Candle has always been closely aligned with IBM, and has a portfolio of systems management software that works with IBM hardware and software products. IBM has a habit of acquiring companies with a history of innovation and market leadership.
Wow, that last paragraph is just chock-full of corporate jargon. That's probably because I work for Candle, and I just got out of a corporate-wide meeting discussing the acquisition. Of course, nobody involved can really discuss the details of the acquisition publicly or with employees until the standard government regulatory approvals are completed, but as a former IBMer who has always had somewhat of a bias towards IBM and its products, I have to say I'm pretty excited about the whole thing. I really do think it'll be a good fit for both companies - as one analyst put it (and I'm paraphrasing here), Candle and IBM have been dating for 27 years - it's about time they finally tied the knot.
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Posted by: Kathleen McGivney at: 03:08:47 PM
