Corio Inc

IBM Corp. said Tuesday that it had agreed to buy software-management company Corio Inc. for $182 million in a bid to boost sales to smaller businesses. IBM would pay $2.82 a share, or 38% more than Corio's closing price Monday of $2.05. The cash purchase of Corio, which installs and manages software for companies, probably will close in 60 days, Armonk, N.Y.-based IBM said.

IBM Corp. said Tuesday that it had agreed to buy software-management company Corio Inc. for $182 million in a bid to boost sales to smaller businesses. IBM would pay $2.82 a share, or 38% more than Corio's closing price Monday of $2.05. The cash purchase of Corio, which installs and manages software for companies, probably will close in 60 days, Armonk, N.Y.-based IBM said.