IBM Buys FileNet For $1.6B

IBM is buying Costa Mesa-based FileNet, in a deal worth $1.6 billion, the companies said this morning. IBM said today that it would buy FileNet for $35 per share of FileNet common stock in cash, a premium over FileNet's current price. IBM said that it will combine FileNet with its Content Management business, integrate IBM's BPM and Service Oriented Architecture technology with FileNet's platform, and continue to support both FileNet and IBM content management platforms after the acquisition. FileNet develops document and content management software, and is publicly listed on the Nasdaq as FILE.