LTW and Wire Reports

RESEARCH TRIANGLE PARK, N.C. – IBM (NYSE: IBM) announced a definitive agreement to acquire on Tuesday.

The privately-held company based in San Mateo, Calif., will expand business analytics capabilities by enabling a cloud-based delivery model to gain real-time insight into consumer interactions internally and through social media networks to develop faster, more targeted marketing campaigns.

Financial terms were not disclosed.

Coremetrics delivers Web analytics capabilities to more than 2,100 global brands across a wide range of industries including retail, financial services, media and publishing, travel and hospitality, and education. Customers include Bank of America, Holiday Inn, PETCO, 1-800 Flowers, Office Depot, Victoria’s Secret, Virgin Atlantic Airways and Seton Hall University, among others.

Coremetrics’ 230 employees will be integrated into IBM. The deal is expected to close in the third quarter of 2010, subject to regulatory approvals and the satisfaction of other customary closing conditions.

Shares of IBM rose 65 cents to $129.15 in pre-market trading.

 

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