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IBM Corp. said Wednesday it has agreed to buy Lombardi Software Inc., a company that makes software for automating back-office functions such as supply chain management and human resources. Financial terms were not disclosed.
“This is very exciting for us,” Lombardi CEO Rod Favaron said. “We’ve been building this business for a number of years, and this is a tremendous next step. This marketplace is really exploding, and, frankly, the demand is outpacing our ability to scale.
“Getting to plug into a global leader like IBM is a great next step for us,” he said.
Lombardi, based in Austin, Texas, “fills out our company’s portfolio in this key area,” IBM said in a statement.
IBM shares were up 21 cents to $128.70 in premarket trading.
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