IBM acquires UrbanCode, maker of software update tools
IBM has acquired UrbanCode, whose tools help companies like Walt Disney, Wal-Mart and Fidelity Investments deliver software updates in their complex corporate software environments, the companies announced Monday.
Terms of the deal were not disclosed.
Randy Newell, director of marketing at IBM Software's Rational division, said the employees of Cleveland-based UrbanCode would remain in place and become IBM employees.
Maciej Zawadzki, co-founder and chief executive of 17-year-old UrbanCode, will report to Kristof Kloeckner, general manager, IBM Rational Software.
Newell said that updating enterprise software across multiple operating systems and mobile devices can be "enormously complex" and UrbanCode's tools automate the process of moving software through the phases of development, testing and deployment.
Newell said corporations are facing challenges as they seek to provide frequent updates to software that can reside not only on desktops, but on myriad mobile devices and in the "cloud."
In cloud computing, software resides on servers on a computer network and can be used as needed by devices over the Internet.
In afternoon trading, shares of Armonk-based IBM slid $1.20, or .63 percent, to $188.80.
On Thursday, IBM posted first quarter profit of $3 a share, missing consensus analyst estimates by 5 cents. The company reported revenue of $23.41 billion, below analysts' forecasts of $24.62 billion.