Fall out from IBM-FileNet deal?

IBM's planned $1.6 billion acquisition of content management software company FileNet sparked more talk of software industry consolidation, and speculation of what might happen next.

AMR Research analyst Jim Murphy noted that OpenText is the largest stand-alone content management company remaining, now that Documentum is part of EMC and IBM intends to buy FileNet, as the companies announced on Thursday.

Oracle, he noted, has big ambitions in content management, which could lead the acquisitive Oracle to buy OpenText. Or, has as a New York Times news story pointed out, Oracle could bid for FileNet as well. IBM offered only a slight, one percent premium over FileNet's Wednesday stock price.

IBM's check book is likely still open and ready for more deals as it seeks revenue growth and a wider product girth.

Last month, rumors surfaced that IBM could buy business intelligence provider Cognos. It's an area that is seeing steady spending from corporate customers and one where IBM has already made significant investments.

Having made three acquisitions in the space of two weeks, perhaps IBM's shopping spree won't pause for long.