IBM (Quote, Chart) is bulking up security consulting services with its acquisition of Internet Security Services (Quote, Chart) in a $1.3 billion all-cash deal that values the Atlanta-based ISS at $28 per share.
IBM said the deal would reinforce its position in the rapidly growing area of Managed Security Services and is an important addition to IBM's security and privacy services business. The plan is to add ISS to a business unit within IBM Global Services' Security division.
Product lines and services within ISS include an automated security platform, services, software and consultants.
IBM has been on a shopping spree lately. Two weeks ago it agreed to acquire FileNet, a rival provider of enterprise content management (ECM) systems.
A week before, it agreed to buy software and services provider MRO Software for $740 million in cash.
The companies said ISS has more than 11,000 customers worldwide, including 17 of the world's largest banks, 15 of the largest governments, 11 of the top public insurance companies and 13 of the world's top IT organizations.