IBM to buy back-office software maker Lombardi

AP News
Posted: Dec 16, 2009 8:12 AM

IBM Corp. said Wednesday it has agreed to buy Lombardi Software Inc., a company that makes software for automating back-office functions such as supply chain management and human resources. Financial terms were not disclosed.

Lombardi, based in Austin, Texas, "fills out our company's portfolio in this key area," IBM said in a statement.

IBM shares were up 21 cents to $128.70 in premarket trading.