IBM Goes After Legacy Data
October 14, 2003[From atnewyork.com]
Hearing that analysts had found 60 percent of enterprises still had non-relational information stored on networks, IBM (Quote, Chart) went out and bought up a company that could convert that legacy information.
On Tuesday, Big Blue officials announced the acquisition of Santa Clara, Calif.-based CrossAccess Corp. Financial terms of the deal were not disclosed. Officials expect the acquisition to close by the end of the year.
The 24 employees at CrossAccess will move to IBM's data management software group offices when the deal is completed, and immediately thereafter begin selling the service as an IBM-branded service.
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