Computing giant IBM Corporation said today that it was buying Internet Security Systems for $1.3 billion to expand its reach into secure online networks.
The Atlanta-based ISS says it helps to 'proactively protect' its 11,000 customers, including some of the world's leading companies and governments, against Internet threats across networks and servers.
'The acquisition is an important addition to IBM's security and privacy services business,' the companies said in a joint statement.
'Together, IBM and ISS will help clients of all sizes preemptively stay a step ahead of targeted security threats or attacks,' they added.
The companies said they expected to close the deal by the end of the year.
IBM's purchase price comes to $28 per ISS share, a premium of about 8% on the security firm's closing price yesterday of $26.
