In a move it says will strengthen its bid to dominate information integration markets, IBM announced Thursday that it was acquiring Venetica, a Charlotte-based developer of database integration tools.

Terms of the deal were not disclosed, although Venetica’s 70 employees will become part of IBM and the company will remain in Charlotte.

IBM said the deal would close in the fourth quarter.

“While different technologies have evolved for handling structured and unstructured information, real world business problems often require a blend of both,” said Stuart Levinson, president and CEO of Venetica who launched the company in 1993. “IBM’s leadership in understanding and addressing comprehensive information integration will enable customers to truly tap into their enterprise information assets for better strategic insight.”

Venetica will become part of IBM’s Information Integration unit. Venetica’s products enable enterprises to gather data from disparate databases and integrates them into one screen and process.

Citing figures from analyst firm IDCV, IBM said it expected the information integration market to top $10 billion in 2006.

“With the addition of Venetica technology and its expertise in unstructured data access, IBM is extending its leadership in helping customers build on their existing IT infrastructure and reduce the time and costs associated with integrating their diverse information assets.” said Janet Perna, general manager of IBM Data Management Software, in a statement.

IBM Information Management Portfolio: