IBM to spend $480 million on Unica

IBM said it inked a deal to buy Unica Corp. for about $480 million.

Big Blue reckons Unica will expand its ability to help organisations "analyse and predict customer preferences and develop more targeted marketing campaigns."

Craig Hayman, general manager, IBM Industry Solutions called Unica, "a clear choice for IBM, based on its power to automate a broad set of marketing capabilities and its established reputation for delivering customer success in marketing to organisations around the world."

Unica shareholders will trouser $21 a share in cash, IBM said today in a statement, which is more than double the stock’s price on the day the deal was announced - yesterday.

IBM said Unica's 500 employees will be borged into IBM’s Software Solutions Group.

IBM said it expects to close the deal by the end of the year.