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IBM Snaps Up Internet Analytics Firm Coremetrics

IBM yesterday announced the acquisition of Coremetrics, a private provider of Internet analysis services.

Coremetrics, based in San Mateo California, is an online firm providing web analytics to more than 2,100 global companies including Bank of America, Office Depot, Holiday Inn, PETCO, 1-800 Flowers, Virgin Atlantic Airways, Seton Hall University, and Victoria's Secret.

IBM plans to expand its business index by integrating Coremetric's technology of web analysis into its WebSphere.

The company is set to use a cloud-based delivery model to provide companies with an insight into consumer behaviour, social networking and web media, helping them to build more effective marketing campaigns, said Craig Hayman, general manager of IBM's WebSphere.

IBM plans to absorb Coremetric's 230 employees into its own workforce, and Coremetrics will become a part of IBM's application and integration portfolio.

The deal is expected to be finalised by the third quarter of this year.

IBM is yet to release any financial details of the acquisition.