WHITE PLAINS, N.Y. — International Business Machines Corp. said it has agreed to acquire minority equity interests in Image Business Systems Corp., an applications software developer, and I/NET Inc., a contract research and development firm.
Under the terms of the agreements, IBM will invest $6 million in IBS, New York, and $4.3 million in I/NET, Kalamazoo, Mich.
IBS and I/NET will use the proceeds for general corporate purposes, including image product development based upon IBM products.
IBS recently announced that it became an IBM Business Partner--Cooperative Software Program supplier. Under that agreement, IBM and IBS will market IBS image software, called IBS ImageSystem.