IBM To Acquire myInvenio To Drive Business Automation Abilities

International Business Machines Corp (NYSE: IBM) inked an agreement to acquire Reggio Emilia, Italy’s process mining software company myInvenio.
The financial terms of the transaction were not disclosed.
The acquisition builds on IBM’s sustained investment in offering organizations a one-stop-shop of AI-powered business automation capabilities.
The acquisition also builds on IBM’s OEM agreement with myInvenio.
IBM planned to integrate myInvenio’s capabilities into its Automation portfolio, including IBM Cloud Pak for Business Automation, IBM’s hybrid cloud software for AI-enabled business transformation and productivity.
IBM held $14.3 billion in cash and equivalents as of Dec. 31, 2020.
Price action: IBM shares traded lower by 0.17% at $132.42 in the premarket session on the last check Thursday.