IBM buys software co Unicorn Solutions

The company is registered in New York and with an R&D center in Jerusalem.

IBM (NYSE:IBM) today announced the acquisition of Unicorn Solutions Inc., a company registered in New York and with an R&D center in Jerusalem. Sources inform ''Globes'' that the price tag was $10 million.

In its press release, IBM said Unicorns 28 employees at its Jerusalem R&D center would join IBM R&D laboratory in Israel.

Founded by CEO Dr. Zvi Schreiber in 2001, Unicorn has raised $12 million to date. Schreiber previously founded Tradeum, which was sold to Verticalnet Inc. (Nasdaq:VERT) in 2000 for $500 million.

The acquisition of Unicorn is IBMs second acquisition in Israel this year, following the acquisition of iPhrase, whose employees also joined the IBM Haifa Research Laboratory in Israel.

Unicorn develops software for metadata management. Metadata is information that is used to describe the characteristics of data, such as when and by whom it was created, accessed, modified, as well as how it is formatted. Companies use metadata to gain a better understanding of how they can most effectively use data in their business processes..

IBM Haifa Research Laboratory general manager Dr. Michael Rodeh said, This step is further proof of IBMs high appreciation for R&D conducted in Israel.

Gartner Inc. included Unicorn in the visionary quadrant in its Magic Quadrant. Red Herring included the company in its 100 leading start-ups in 2005.

Unicorns technology will improve IBMs information management solutions basket, and IBM will include Unicorns solutions in its software products. Unicorn is IBMs 18th acquisition in Israel since 2001.

Jerusalem Global Ventures (JGV) is the only Israeli venture capital fund that invested in Unicorn. JGV founding partner Shlomo Kalish said today, The company operates in the area of enterprise information consolidation. It was ahead of its time, so it struggled to make sales during the hard years of the high-tech crisis. Were pleased that IBM, the global leader in enterprise solutions, will adopt Unicorns solutions. In addition, all the companys employees will stay in Israel and work for IBM.

Unicorn said it could not comment on the report.

Published by Globes [online], Israel business news - www.globes.co.il - on May 9, 2006

Copyright of Globes Publisher Itonut (1983) Ltd. 2006

 
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