Technology company IBM has agreed to acquire Netezza, a New York-listed based provider of data analysis services, for about $1.7bn.
Netezza has venture capital (VC) firm Matrix Partners as its third-largest shareholder with 3.8 million shares worth $102m at the offer price of $27 each. However, other venture investors, that originally included mobile phone subsidiary Orange’s corporate venturing division, had sold down since its flotation.
Netezza had raised more then $68m in venture funding since its launch in 2000 from Orange Ventures and VCs Matrix, Charles River Ventures, Battery Ventures, Sequoia Capital and Meritech Capital Partners.
IBM and Netezza had previously been strategic partners to provide integrated systems, software and storage for analysing data. Netezza has more than 350 clients, including dating agency eHarmony, retailer Neiman Marcus, media group Time Warner, cosmetics company Estee Lauder, and healthcare provider Blue Cross Blue Shield of Massachusetts.