International Business Machines Corp. (NYSE: IBM), the No. 2 computer maker, said it agreed to acquire privately held Tealeaf Technology, a specialist in customer analytics software.
Terms weren't disclosed.
Based in San Francisco, Tealeaf is a spinoff from Germany's SAP (NYSE: SAP), the No. 2 database software company. Since 1999, Tealeaf has developed software used by more than 450 companies, including Dell (Nasdaq: DELL), the No. 3 PC maker, and Wells Fargo (NYSE: WFC), the No. 3 U.S. bank, to help companies analyze customer behavior.
IBM, managed from Armonk, N.Y., will incorporate the Tealeaf software into its e-commerce platforms as part of its enterprise marketing and management group.
Tealeaf CEO Rebecca Ward said the takeover is the perfect fit and strengthens IBM's ecommerce offerings. Craig Hayman, IBM general manager of industry solutions, said the addition can show companies how customers actually experience their brands.
IBM has invested more than $3 billion to develop its ecommerce portfolio via internal development as well as acquisition. The company reported cash and investments of $12.3 billion as of March 31.
IBM shares fell $1.44 to $205.80 in midday Friday trading.