Dallas, Texas 07/10/2013 (Financialstrend) – International Business Machines Corp. (NYSE:IBM) announced on Tuesday a definitive agreement to acquire CSL International, the leader in providing virtualization management technology. The acquisition of the Israel-based company is primarily based on IBM’s strategy to expand the System Z portfolio. The financial terms of the acquisition deal have not yet been finalized and it is expected that this will enable International Business Machines Corp. (NYSE:IBM) to deepen the cloud computing and consolidation capabilities through the possibility of simplified management of virtualization environment.
The advantages of Linux on System Z have been effective at attracting a lot of customers to the operating system with the shipping capacity having been doubled in the first quarter of fiscal year 2013. The recent acquisition of CSL International will enable International Business Machines Corp. (NYSE:IBM) to further expand its cloud virtualization capabilities so as to effectively serve the expanding markets for Linux on System Z.
After reaching the intraday high price of $192.80, the share price of International Business Machines Corp. (NYSE:IBM) closed at $191.30 with an intraday low price of $190.78. The share price of International Business Machines Corp. (NYSE:IBM) decreased by 1.89 percent, closing at $191.88. The 52-week high price of International Business Machines Corp. (NYSE:IBM) is $215.90 and the 52-week low price stood at $181.85. With 1.11 billion total outstanding shares, the market capitalization of International Business Machines Corp. (NYSE:IBM) is $212.11 billion. The intraday share trading volume for yesterday was 5.20 million, whereas the average trading volume of International Business Machines Corp. (NYSE:IBM) heads up to 3.86 million. Institutional ownership in International Business Machines Corp. (NYSE:IBM) records a contribution of 60 percent of the company’s total outstanding shares.
