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Submission + - Cognos bought up by IBM for over 5 billion USD (

Jorophose writes: "Yesterday Ottawa tech giant Cognos, provider of business analysis software, was bought up by IBM, promising to keep Cognos as an Ottawa-area tech force, and continuing the Cognos name. Though the deal was announced yesterday, CEO Rob Ashe had been discussing it for 30 to 45 days. The purchase might lead to problems in the Ottawa-Gatineau area, as "redundant" employees might be layed off (investors relations and regulatory relations are likely). It's also the purchase of the largest IT company in Ottawa, along with Corel trailing behind, leaving the "Silicon Valley of the North" with one less catalyst. This is the biggest IT company purchase since Alcatel bought Mitel Networks in 2000 for $7 billion USD."

Neckties strangle clear thinking. -- Lin Yutang