IBM buys service provider for $182M

Von Computerworld staff

IBM Corp. has agreed to acquire Corio Inc., an enterprise application services provider, for US$182 million in cash. IBM said the deal is part of an effort to strengthen its application services portfolio. Corio"s chief executive, George Kadifa, will continue to manage the Corio unit and will gain responsibility for IBM"s application services initiative. Corio workers will become IBM employees.