IBM to buy Software AG's enterprise integration platforms for $2.3 billion

FILE PHOTO: The logo for IBM is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 27, 2018. REUTERS/Brendan McDermid//File Photo

FRANKFURT (Reuters) -IBM said on Monday that it would buy Software AG's enterprise integration platforms for 2.13 billion euros ($2.33 billion) to bolster its artificial intelligence and hybrid cloud offerings.

IBM will acquire Software AG's StreamSets and webMethods platforms with available cash on hand, it said. The two units formed Software AG's so-called "Super Ipaas" business, which was launched in October.