IBM Snatches Virgin Cognos

Before the bell yesterday IBM (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 (SAP) is bogged down for the moment and Oracle (ORCL) is still futzing around with BEA systems (BEAS).

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