IBM gets clearance from Canada for Cognos takeover

giovedì 31 gennaio 2008 17:13

Jan 31 (Reuters) - IBM (IBM.N: Quotazione) said it received approval for its proposed acquisition of Cognos CSN.TO COGN.O from the Canadian Minister of Industry under the Investment Canada Act.

IBM said it plans to combine the Canadian operations of Cognos with IBM Canada's existing operations. Additionally, Cognos' Chief Executive Rob Ashe is expected to continue to lead this business segment from Canada, including the integration into IBM, once the acquisition closes, IBM said in a statement. (Reporting by Neetha Mahadevan in Bangalore; Editing by Anupama Dwivedi)