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Monday, November 12, 2007

Cognos agrees to purchase by IBM

Canada's largest software developer, Cognos, has agreed to a $5 Billion buyout by IBM. The move comes on the heals of similar deals for Cognos competitors Business Objects by SAP and Hyperion Solutions Corp. by Oracle. "We chose Cognos because of its industry-leading technology that is based on open standards," said Steve Mills, senior vice-president in IBM's software group. CBC has more here.