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IBM to buy DemandTec for about $440 million

A man passes by an illuminated IBM logo at the CeBIT computer fair in Hanover
A man passes by an illuminated IBM logo at the CeBIT computer fair in Hanover

(Reuters) - International Business Machines plans to buy analytics software provider DemandTec for about $440 million in cash.

IBM said DemandTec will extend what it calls its smarter commerce initiative, which helps retailers analyze and predict consumer behavior to adjust prices and products accordingly.

IBM sees smarter commerce software sales reaching $20 billion within the next year.

The acquisition is subject to DemandTec shareholder approval and is expected to close in the first quarter of 2012, IBM said on Thursday.

DemandTec will be required to pay IBM a termination fee of $14.0 million in case of termination of deal.

DemandTec has some 450 customers worldwide including retailers such as Best Buy, The Home Depot, Petco, Safeway, Target, and Walmart.

(Reporting by Sayantani Ghosh in Bangalore and Nicola Leske in New York; Editing by Derek Caney)

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