ARMONK, N.Y. (AP) — IBM Corp. said Monday it has closed its acquisition of Coremetrics, a San Mateo, Calif., provider of Web analytics software that helps customers develop marketing campaigns.
Financial terms of the deal were not disclosed. IBM said Coremetrics technology will help its customers measure how effective their market campaigns are and understand the "shopping habits, likes and dislikes of their customers."
Coremetrics' rivals include the much larger Omniture Inc., which software company Adobe Systems Inc. snapped up last year in a deal worth $1.8 billion.
IBM said Coremetrics' roughly 230 employees will join the company.
Shares of International Business Machines Corp. climbed $2.12 to $130.54 in afternoon trading amid a broader market rally.