IBM (IBM) reached an agreement to purchase marketing software firm Unica for about $480 million, or $21 per share.

The acquisition, which is subject to regulatory clearance and approval from Unica's shareholders, should close in the fourth quarter, IBM said in a statement.

The purchase is part of IBM's strategy to grow its business software operation, the statement said.

"Unica was a clear choice for IBM based on its power to automate a broad set of marketing capabilities and its established reputation for delivering customer success in marketing to organizations around the world," said Craig Hayman, general manager of IBM Industry Solutions.

Increase your money and finance knowledge from home

Investing in Real Estate

Learn the basics of investing in real estate.

View Course »

Basics of Diversification

Learn one of the fundamental concepts of building a portfolio.

View Course »

Add a Comment

*0 / 3000 Character Maximum