IBM buying Netezza for about $1.7 billion

ARMONK, N.Y. (AP) - September 20, 1010

IBM Corp. says it is offering $27 per share for Netezza Corp.

That's a 10 percent premium over the company's last closing share price of $24.60.

Netezza helps sort through data housed on corporate servers to help companies make decisions about their businesses.

The company, which is based in Marlborough, Mass., lists Neiman Marcus, Time Warner and Virgin Media among its customers.

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