IBM buys software updates company UrbanCode

ARMONK, N.Y. (AP) -- IBM said Monday that it has bought UrbanCode Inc., a company that it said helps businesses update their software faster.

Financial terms were not disclosed.

The company has been focusing on growing its software business, which is more profitable, over hardware.

Cleveland-based UrbanCode automates the delivery of software, helping businesses quickly update and release mobile, social, big data and cloud-based apps. With UrbanCode's technology, businesses can dramatically cut the time it takes to get updates or new apps into market, IBM said.

Shares of the Armonk, N.Y.-based IBM Corp. fell $1.60 to $188.40 in late afternoon trading.