IBM said on Wednesday it agreed to buy Internet Security Systems Inc. for $1.3 billion, in a move to beef up its product line in the rapidly growing business of Internet security.
International Business Machines Corp., the world's largest information-technology company, said it will pay $28 a share for Internet Security, continuing an acquisition drive to fuel growth in its software and services businesses.
The price represents a 7.7 percent premium to Internet Security's Tuesday closing price of $26 a share on Nasdaq. The stock rose 7 percent, or $1.82, in premarket trade.
