IBM and MRO Software, Inc. have announced that the two companies have entered into a definitive agreement for IBM to acquire MRO Software Inc., a publicly held company based in Bedford, Mass., in an all-cash transaction at a price of approximately $740 million, or $25.80 per share.
MRO is provides asset and service management software and consulting, used by large companies to manage how they buy, maintain and retire assets – such as production equipment, facilities, transportation and information technology (IT) hardware and software.
Various websites list Indus and Datastream as the leading competitors to MRO.
According to statements, IBM intends to establish MRO Software’s operations as a business unit within IBM’s Tivoli software unit which is led by General Manager Al Zollar. Also, upon successful completion of the acquisition, IBM intends to incorporate MRO software technology into their Tivoli software offerings.
MRO has customer list includes: BP, ExxonMobile, China National Offshore Oil Company (CNOOC), Cargil, Heineken, Frito Lay, Daimler Chrysler, Ford, GM, and others.
The acquisition is subject to MRO Software shareholder and regulatory reviews and other customary closing conditions. It is expected to close in the fourth quarter of 2006.
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