IBM Buys Telelogic

IBM announced today that it acquiring Malmo, Sweden-based Telelogic AB, a provider of software development products, in a deal worth approximately $745M in cash. Telelogic has major operations and U.S. headquarters in Irvine, California. Telelogic provides product development and modeling software used in designing complex systems, including aircraft and automobiles. Telelogic employes more than 1,100, and according to IBM had annual revnues of approximately $208M in 2006. The deal is subject to regulatory and governmental clearances and approvals. Telelogic AB will become a part of IBM's Rational Software division.