IBM's spending spree continues as it plans to buy Internet Security Systems for $1.3 billion Dollars. IBM will pay $28 Dollars for each share of the network security service provider and will gain almost 11,000 worldwide customers.
ISS provides both intrusion prevention hardware and managed security services. It also markets the subscription-based "X-Force" threat analysis service which sends out security alerts. Large banks and national governments are part of Internet Security Systems' impressive client list. The company has 1300 employees and made $300 million in revenue last year.
A few weeks ago, IBM purchased document management software maker FileNet for $1.6 billion Dollars. IBM also has plans to purchase MRO Software and Webify Solutions.