IBM Buying Initiate Systems
IBM has agreed to acquire Initiate Systems Inc., a Chicago-based provider of master data management solutions for the exchange of health information. No financial terms were disclosed. Initiate Systems has raised over $67 million in VC funding, from Apex Venture Partners, First Analysis Group, Sigma Partners, BlueCross BlueShield Venture Partners and Paladin Capital Group. It canceled a proposed IPO in 2008.
3 February 2010•5 mins read
