IBM snapped up publicly traded software vendor FileNet for $1.6 billion in an all-cash transaction. FileNet is a direct competitor to Documentum, which was picked up by EMC for a similar sum in October 2003. EMC has been constantly filling in the gaps of its content management portfolio over the last couple of years. The market for content management products will be worth more than $1 billion within the next two to five years, EMC execs say. The IBM/FileNet deal is expected to close in the fourth quarter of 2006.”]
Source: https://www.darkreading.com/analytics/ibm-nets-filenet-for-1-6b