IBM buys web analytics outfit Coremetrics

IBM says it has entered a definitive agreement to acquire Coremetrics, a web analytics firm.

Privately held Coremetrics, based in San Mateo, provides a cloud-based analytics platform designed to enable companies to deliver "faster, more targeted marketing campaigns".

"With this acquisition, we are extending our capabilities to give clients greater insight about customer behavior and sentiment about products and services, and give true foresight into their future buying patterns," said Craig Hayman, general manager, IBM WebSphere. "The combination of IBM and Coremetrics will maximise marketing expenditures and also make the buying experience more convenient, personal and interactive for consumers."

IBM said it will continue to support and enhance Coremetrics' technologies and clients while allowing them to take advantage of the broader IBM portfolio. Coremetrics' approximately 230 employees will be integrated into IBM.

The deal is expected to close in the third quarter of 2010, subject to regulatory approvals and the satisfaction of other customary closing conditions.

Financial terms were not disclosed.