SOMERS, N.Y. - International Business Machines Corp. said it has agreed to buy Mainspring, a digital business consulting firm in Cambridge, Mass., in a deal valued at about $80 million.
IBM is to pay $4 per share for all outstanding Mainspring common stock. It says its goal in the deal, which was announced April 19 and is expected to be completed by mid-June, is to strengthen the consulting capabilities of its global services division.
Mainspring, founded in summer 1996 and public since July 2000, helps companies develop online and offline strategies aimed at exploiting new markets, business models, and technologies.
Tom Hawk, IBM global services' general manager for business innovation services in the Americas, said the acquisition "will expand our business strategy capabilities."