International Business Machines Corp. (IBM) agreed to acquire analytics-software provider Tealeaf Technology Inc., continuing the expansion of its Smarter Commerce initiative.
Financial terms weren't disclosed.
Tealeaf provides customer-experience-management software, which records and analyzes a customer's website and mobile interactions. The company is based in San Francisco, with additional offices in Europe, and has more than 450 customers worldwide, including Dell Inc. (DELL), Wells Fargo & Co. (WFC), Air Canada (AIDIF, AC.A.T) and Geico Corp.
IBM expects to close the deal in the second quarter and plans to integrate Tealeaf into its Enterprise Marketing and Management group.
IBM has invested more than $3 billion in building its Smarter Commerce initiative: its suite of software that helps retailers analyze their data.
Last month, it agreed to acquire Varicent Software Inc., a provider of software that analyzes compensation and sales performance; and Vivisimo Inc., whose software helps organizations access and analyze massive amounts of information, also known as big data.
The deals come amid IBM's push to expand into complex, high-margin areas such as the business-analytics field, which mines unstructured data for insight.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283; [email protected]