The offer was finalized after IBM obtained acceptance from 98.7% of stock ownership in Telelogic as well as satisfaction of other conditions of the offer, including necessary worldwide regulatory approvals. IBM has announced the completion of its around US$845mn tender offer for the shares of Telelogic AB. The tender offer, announced on June 11, 2007, was finalized after IBM obtained acceptance from 98.7% of stock ownership in Telelogic as well as satisfaction of other conditions of the offer, including necessary worldwide regulatory approvals. Telelogic is a leading provider of software to develop technical systems and enterprise architecture, and has more than 8,000 customers worldwide. Headquartered in Malmo, Sweden, and Irvine, California, Telelogic has more than 1,200 employees and operations in 22 countries around the world. In India, Telelogic has a strong headcount of approx. 300 who will be integrated into IBM India towards the end of 2008. According to Ken King, Vice President and Telelogic Integration Executive, IBM Software, “With the acquisition closure, Telelogic now becomes ‘an IBM company’. The integrated product and technology roadmap will illustrate incremental value to our systems and IT customers across Telelogic and Rational. India has a unique advantage with this acquisition as we gain not just from the business perspective but also from the strong skill-set that Telelogic has here.” Together, IBM, Telelogic, and business partners will help customers deliver high quality systems to the market faster while reducing costs. Customers will benefit from the combined technologies and services of both companies, providing them a wide range of software and system development capabilities, along with support from a worldwide sales and services organization. Together, IBM and Telelogic provide a comprehensive offering for defining, modeling, building, testing and delivering the software used in systems in the aerospace and defense, telecommunications, electronics, automotive and other industries. For example, an automotive manufacturer would use IBM and Telelogic solutions to help build and deliver software to operate a vehicle’s anti-lock braking system or navigation system. In aerospace and defense, an organization could use IBM and Telelogic to develop and operate advanced satellite radar systems and space telescopes. “Telelogic is an important element of our software and systems development and delivery strategy,” said Dr. Daniel Sabbah, General Manager, IBM Rational Software. “Software is at the heart of embedded devices and systems. Whether it’s used to develop the next generation of communication devices or systems for space exploration, this IBM technology has important implications for society.” Telelogic will report into the IBM Rational Software unit. Consistent with IBM’s Software strategy, Telelogic clients’ and partners’ investments in existing IBM and Telelogic technologies will be preserved, allowing customers to take advantage of the broader set of capabilities without the need to replace existing systems. The Telelogic acquisition supports both IBM’s acquisition strategy and capital allocation model, and will contribute to the achievement of the company’s objective for earnings-per-share growth through 2010. Since 1995, IBM has invested more than US$18bn on public acquisitions, making it the most acquisitive company in the technology industry, based on volume of transactions. Other strategic acquisitions in support of IBM’s software and systems development and delivery strategy include BuildForge (build and release management), SystemCorp (project and portfolio management) and Watchfire (Web application security).