IBM in $1.6b deal for software company FileNet

BOSTON (AP) - IBM Corp. took another step to build out its software portfolio Thursday by announcing a $1.6 billion (euro1.24 billion) acquisition of FileNet Corp., a maker of software which helps companies route data through business applications. 

The all-cash deal values FileNet at $35 a share, a slim premium to FileNet's $34.65 closing price on the Nasdaq Stock Market on Wednesday.  

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