Wednesday, May 11, 2005

IBM Buys GlueCode Software

In a bid to expand its WebSphere line of web products, IBM said yesterday that it has acquired Los Angeles-based GlueCode Software. GlueCode, a venture backed startup funded by Dynafund Ventures, Palomar Ventures, Rustic Canyon Ventures, and Storie Partners, develops process and security management software based on the open source software model. The company's Java-based software provides pre-integrated, enterprise software components based on a subscription model. IBM said that it would integrate the software into IBM's popular WebSphere line of software. Terms were not disclosed.