IBM to buy Palisades Technology Partners

By Dawn Kawamoto
Staff Writer, CNET News

Related Stories: IBM beefs up SOA business
October 3, 2006; Industry shift to services fuels IBM spree
August 22, 2006; IBM puts a bundle on the finance industry
February 2, 2004; IBM thinks vertical with software revamp
December 1, 2003

IBM announced on Friday it plans to buy Palisades Technology Partners, a services and technology company that serves the mortgage and finance industry. The deal, which is expected to close at the end of the year, would provide IBM with Palisades consulting, systems integration and Web-based lending technology.

The acquisition is designed to bolster IBM's business consulting, IT services and financial software business. Palisades, which serves half the world's top 10 financial lenders, uses a service-oriented architecture (SOA) and open-source technology. Terms of the deal were not disclosed.

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business consulting, IT services, IBM Corp., SOA, information technology

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