Industry regulators have given the go-ahead for IBM’s $5bn purchase of Canadian business intelligence firm Cognos.
The US Federal Trade Commission has now put IBM’s proposal on a list of early approved transactions that have cleared antitrust review.
IBM announced the deal last month as a response to similar moves by rivals SAP and Oracle. Last month SAP tabled a $6.8bn bid for Business Objects, which also passed antitrust regulators. And in April Oracle wrapped up its $3.3bn acquisition of Hyperion Solutions.
Shares of IBM bounced up as much as 95 cents to $106.78 in the mid-afternoon trade yesterday.