Bangalore, Apr 28: IBM today announced completion of acquisition of Telelogic AB, a leading provider of software to develop technical systems and enterprise architecture, for approximately 845 million US Dollar. The tender offer, announced on June 11, 2007, was finalised after IBM obtained acceptance from 98.7 percent of stock ownership in Telelogic as well as satisfaction of other conditions of the offer, including necessary worldwide regulatory approvals, according to a release here. Headquartered in Malmo, Sweden, and Irvine, California, Telelogic has more than 1,200 employees and operations in 22 countries around the world.
In India, Telelogic has a strong headcount of approximately 300 who will be integrated into IBM India towards the end of 2008. According to Mr Ken King, Vice President and Telelogic Integration Executive, IBM Software ''with the acquisition closure, Telelogic now becomes 'an IBM company'. The integrated product and technology roadmap will illustrate incremental value to our systems and IT customers across Telelogic and Rational. India has a unique advantage with this acquisition as we gain not just from the business perspective but also from the strong skill-set that Telelogic has here.''