IBM Acquiring DemandTec For $440 Million

International Business Machines Corp. (NYSE:IBM) has made an agreement to buy DemandTec, Inc. (NASDAQ:DMAN) for $440 million. DemandTec is a company that helps businesses adjust promotions based on buying patterns. This all-cash transaction amounts to $13.20 per share. The transaction is expected to close in Q1 2012. This is IBM’s largest transaction since the company acquired analytics company Netezza Corp. last year for around $1.7 billion. DemandTec will be rolled into IBM’s Smarter Commerce initiative. DemandTec is based in San Mateo, California and employs about 350 people. They have about 450 customers worldwide including Best Buy and Target. [BusinessWeek]