Mergers and Acquisitions Review: IBM BUYS Texas Memory Systems, Cnooc Being SMARTER With Nexen
International Business Machines Corporation (NYSE:IBM) purchases Texas Memory Systems, which produces high-end flash memory hardware, in a transaction of which the financials were not reported. TMS offers standalone systems that rival Violin Memory, XtremIO, and PCI-Express modules for servers, which compete with solutions by OCZ Technology Group Inc. (NASDAQ:OCZ), Fusion-io Inc. (NYSE:FIO), and STEC. This acquisition represents an attempt by IBM to revamp a storage business that has experienced slumping sales.
Don’t Miss: Is Facebook Playing DIRTY Games With Instagram?
Cnooc Limited (NYSE:CEO) is apparently learning from its failed attempt with its 2005 offer for Unocal, and is taking a smarter tack in its attempt to purchase Nexen, Inc. (NYSE:NXY); observers are more optimistic that it will succeed this time. Conditions are said to be different now, “especially since everybody needs the kinds of long-term patient capital China provides.” Nexen’s lack of name recognition in the United States and in Canada is thought to be helpful as well.
Don’t Miss: Is This How Apple Will Actually Do TV?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.