IBM Snatches Virgin Cognos

Includes: COGN, IBM
by: Saul Sterman

Before the bell yesterday IBM (NYSE:IBM) announced that it was acquiring Cognos (COGN) for $5 billion. It pays to read our articles! Though the majority of analysts started to downgrade Cognos due to valuation, I spelled out in my previous article why this was not the case. It will be interesting to see if another suitor emerges.

For the time being, Cognos is going for $58 cash per share which looks like the top being that SAP AG (NYSE:SAP) is bogged down for the moment and Oracle (NASDAQ:ORCL) is still futzing around with BEA systems (BEAS).

Just read the previous article from 10/16/2007 for the rest.