IBM (NYSE: IBM) today announced the completion of its approximately $845 million USD (approximately 5 billion Swedish Kronor) tender offer for the shares of Telelogic AB (Nordic Exchange/MidCap/TLOG). The tender offer, announced on June 11, 2007, was finalized after IBM obtained acceptance from 98.7 percent 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
