IBM has agreed to acquire MRO Software Inc., Bedford, MA, for $740 million in cash.
MRO Software has produced double-digit growth since the company reported revenues of $199.2 million for the fiscal year ending Sept. 30, 2005.
MRO Software is a provider of asset and service management software and consulting used to manage how companies buy, maintain and retire assets such as production equipment, facilities, transportation and information technology hardware and software in many industries, including utilities, manufacturing, energy, pharmaceutical and telecommunications.
IBM's acquisition of MRO will provide its customers a set of asset management solutions and services. MRO asset management technology and consulting services will be integrated into IBM Software and IBM Global Services offerings.
IBM will establish MRO Software's operations as a business unit within IBM's Tivoli software unit. MRO software technology will be incorporated into IBM's Tivoli software offerings.
The two companies' business relationship began in 1996.
MRO customers include: BP, ExxonMobile, China National Offshore Oil Company (CNOOC), Cargil, Heineken, Frito Lay, Daimler Chrysler, Ford, GM, DTE Energy, Constellation Generation Group, Department of Defense, Department of Treasury, NASA, U.S. Air Force, U. S. Marines, City of Atlanta, GA, and Los Angeles County Public Works.