IBM To Buy Management Software DeveloperIBM To Buy Management Software Developer

IBM said it has reached a definitive agreement to acquire Tririga, Inc., a developer of management software for the building and real estate industries.

Under the deal, financial terms of which were not disclosed, IBM will fold Tririga's operations into its Tivoli line of management software and also into its Global Services consulting and outsourcing unit.

IBM said Tririga's offerings will complement its existing line of management products and boost its Smarter Planet business automation strategy.

"The combination of Tririga and IBM smarter building solutions will deliver the industry's most comprehensive capabilities that span the needs of all industries for managing facilities and real estate portfolios," said Florence Hudson, IBM's executive for energy and environment, in a statement.

Hudson said Tririga's suite of products, among other things, allow building managers to simplify their operations. "Having one view of building operations worldwide will be a powerful tool to help organizations control and optimize their second-largest corporate expense—property," said Hudson.

For their part, Tririga executives said joining with IBM will bolster their products' presence globally and allow them to reach new markets.

"Together, IBM and Tririga will offer the most comprehensive facility and real estate management solution for clients around the world," said Tririga president and CEO George Ahn.

"By combining our intellectual capital with the global reach of IBM, we can help clients dramatically improve their buildings' operations to become more sustainable and efficient," said Ahn.

Tririga's software is used by one-third of Fortune 100 companies and 15 federal executive departments in the U.S. government, according to IBM. The company said it expects the deal to close in the second quarter, subject to regulatory approval and other closing conditions.

IBM shares were up .65%, to $159.02, in afternoon trading Wednesday.