IBM has agreed to acquire Net Integration Technologies Inc., a Toronto-based provider of business server software for small businesses. No financial terms were disclosed. NIT has raised over $7 million in VC funding since 2001, from firms like Coller Capital, BDC Venture Capital, Investissement Desjardins and Vimac Ventures.
IBM (NYSE: IBM) today announced it has reached an agreement to acquire Net Integration Technologies Inc., a Toronto, Canada-based, privately held company that offers a complete business server software solution for small businesses. Financial details were not disclosed.
Net Integration Technologies provides server software for small to medium businesses that is simple and easy to maintain. The Net Integration server software solution includes email, file management, directory services, back-up and recovery, office productivity tools and other business software. The server software is designed for businesses with limited or no in-house technical resources.
“Small businesses need superior collaboration technology as much as large companies do,” said Michael D. Rhodin, general manager, IBM Lotus Software. “The difference is that it must be an affordable turnkey package that doesn't require a large investment in on-site IT expertise and resources. Net Integration Technologies meets that need for our SMB customers and represents a terrific business opportunity for IBM's business partners.”
Net Integration's business software helps small companies get up and running quickly — often with their first business server — enabling owners to focus on growing their businesses rather than wasting time and money trying to run their office systems.
“Net Integration has proven that it takes a unique approach to meet the specialized IT needs of small, medium and remote offices,” said Ozzy Papic, president and CEO of Net Integration. “We have delivered award-winning solutions for small-business budgets, making information technology simple and reliable for SMBs. Now we look forward to working within IBM to utilize this technology in exciting new ways.”
Industry observers have favorably rated Net Integration's small-business server software solution against other, higher-priced offerings. Net Integration has received high marks for its ease-of-use, installation and disaster recovery features.
The transaction is subject to customary approvals and closing conditions, and is expected to close in the first quarter of 2008.