IBM Buys PSS Systems

ARMONK, N.Y. (AP) -- IBM has acquired privately-held PSS Systems for an undisclosed amount, the company said Wednesday.

PSS, based in Mountain View, Calif., makes software that helps organizations analyze, automate and implement information governance policies. IBM said the capabilities are "critical elements to remaining responsive to legal obligations while reducing data storage costs.

Shares of IBM rose $1.27 to $141.12 in afternoon trading.
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