IBM Completes Acquisition of Worklight, No Terms

Monday, 27 Feb 2012 | 1:58 PM ET

IBM has completed its acquisition of Worklight, an Israeli software company that specializes in smartphone and tablet technology.

Financial terms were not disclosed Monday.

IBM, based in Armonk, N.Y., announced last month that it had reached a deal to buy Worklight, which offers clients an open platform that speeds the delivery of mobile applications to multiple devices.

The company said it expects Worklight to become an important part of its mobile business and will better allow it to get clients' mobile applications to market more quickly, while also reducing cost and complexity.

In afternoon trading, shares of IBM rose 28 cents to $198.04.

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