IBM to buy analytics provider Netezza

IBM announced on Monday that it plans to acquire analytics company Netezza in a cash deal valued at about $1.7bn.

Netezza, which has about 500 employees, offers a data-warehousing appliance designed to help businesses handle high-performance analytics. In a joint statement detailing the $1.7bn (£1.1bn) deal, IBM touted the ease of installing Netezza's appliance as a way to quickly get analytics into the hands of department-level units such as sales, product development, and human resources.

"IBM is bringing analytics to the masses," Steve Mills, senior vice president and group executive of IBM Software and Systems, said in the statement. "Netezza strongly complements our business analytics capabilities and client base."

For more on this ZDNet UK-selected story, see IBM to acquire Netezza for $1.7 billion on CNET News.