IBM ready to pay $1.7 billion to Netezza

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New York, Sep 21: International Business Machines (IBM) announced that the company is ready to pay $ 1.7 billion to Netezza Corp.

The new move by the IT company expanded its wings in "analytics," where the company sees a major source of growth over the next few years.

IBM expects to grow annual revenue from analytics services, software and hardware sales to $ 16 billion by 2015, up from $ 9 billion in 2009.

The company also estimates the total annual market now amounts to roughly $ 100 billion.

IBM has been pushing into the analytics business through acquisitions. Its biggest takeover in 2009 was a $ 1.2 billion deal for SPSS Inc, a company that makes analytics software for predicting future trends.

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