IBM completes buyout of Tealeaf Technology
IBM closes on acquisition of Tealeaf Technology; financial terms not disclosed
ARMONK, N.Y. (AP) -- IBM Corp. has closed on its buyout of software maker Tealeaf Technology Inc., which it bought to boost its offerings of software that helps companies analyze customers' shopping experiences.
The technology company did not announce how much it paid for Tealeaf.
Tealeaf's software tracks what shoppers do and see on websites and mobile devices. Marketing and e-commerce executives can use its data to improve the design of websites and mobile applications.
IBM said the deal is part of its "smarter commerce" program, which provides software and services that help businesses analyze customer buying trends.
Tealeaf, founded in 1999, was an independent spin-off of business software maker SAP AG. It is based in San Francisco.
Shares of IBM, which is based in Armonk, N.Y., dropped 52 cents to $194.03 in morning trading.
