IBM has announced a deal to acquire the enterprise integration platforms of Germany's Software AG in a deal worth €2.13 billion.

The company said that the all-cash acquisition of StreamSets and webMethods – Software AG's so-called Super iPaaS (integration platform-as-a-service) unit – demonstrates “further evidence of IBM's deep focus and investment in AI and hybrid cloud.”

The announcement comes several months after private equity firm Silver Lake purchased 93.3 per cent of Software AG shares in a deal which valued the whole business at €2.6 billion.

IBM said that Software AG's Super iPaaS platform is growing, profitable and has a significant recurring revenue profile. StreamSets and webMethods serve more than 1,500 clients across the globe.

Rob Thomas, senior vice president, Software and chief commercial officer, IBM, said: "Together with IBM's watsonx AI and data platform, as well as its application modernisation, data fabric and IT automation products, StreamSets and webMethods will help clients unlock the full potential of their applications and data.

“This powerful combination helps drive innovation while preparing businesses for AI, no matter where applications or data reside. Today's news will give IBM clients and partners one of the most modern and comprehensive application and data integration platforms in the industry."

Christian Lucas, chairman of the Supervisory Board of Software AG and managing partner of Silver Lake, added: "The opportunity to bring the StreamSets and webMethods teams together with IBM to innovate in building the future of hybrid cloud and next-generation AI solutions for the enterprise is uniquely compelling.”

The deal is subject to regulatory approvals and is expected to be completed in the second quarter of 2024, IBM said.

Following the announcement, Silver Lake announced its delisting offer for Software AG at €32 per share.

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