Cambridge Business News | Cambridgeshire Local Business & Corporate News | IBM snaps up i2 for £309m

IBM snaps up i2 for £309m

The big Cambridge sell-off continues, this time with computer giant IBM paying a reported £309m for i2 at Fulbourn.

The company’s software helps police and the military around the world to analyse security information and evidence.

The i2 sale is not quite the same as last month’s $10bn sale of Autonomy to HP as i2 had already been sold to Californian private equity company Silver Lake Sumeru.

Eight of the 10 largest companies in the world use i2’s technology which analyses data for crime and fraud prevention intelligence, as do 12 of the top 20 retail banks globally.

Robert Griffin, chief executive of i2, said: “i2’s existing clients will be at home with IBM, a company known for its ability to help organisations make the most of their data assets.”

At its HQ on Capital Park and around the world, i2 has 350 employees and more than 4,500 customers.

via cambridge-news.co.uk