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IBM To Acquire myInvenio To Drive Business Automation Abilities

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Anusuya Lahiri
·1 min read
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  • International Business Machines Corp (NYSE: IBM) inked an agreement to acquire Reggio Emilia, Italy’s process mining software company myInvenio.

  • The financial terms of the transaction were not disclosed.

  • The acquisition builds on IBM’s sustained investment in offering organizations a one-stop-shop of AI-powered business automation capabilities.

  • The acquisition also builds on IBM’s OEM agreement with myInvenio.

  • IBM planned to integrate myInvenio’s capabilities into its Automation portfolio, including IBM Cloud Pak for Business Automation, IBM’s hybrid cloud software for AI-enabled business transformation and productivity.

  • IBM held $14.3 billion in cash and equivalents as of Dec. 31, 2020.

  • Price action: IBM shares traded lower by 0.17% at $132.42 in the premarket session on the last check Thursday.

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