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The Associated Press June 13, 2012, 09:58AM ET

IBM completes buyout of Tealeaf Technology

IBM Corp. has closed on its buyout of software maker Tealeaf Technology Inc., which it bought to boost its offerings of software that helps companies analyze customers' shopping experiences.

The technology company did not announce how much it paid for Tealeaf.

Tealeaf's software tracks what shoppers do and see on websites and mobile devices. Marketing and e-commerce executives can use its data to improve the design of websites and mobile applications.

IBM said the deal is part of its "smarter commerce" program, which provides software and services that help businesses analyze customer buying trends.

Tealeaf, founded in 1999, was an independent spin-off of business software maker SAP AG. It is based in San Francisco.

Shares of IBM, which is based in Armonk, N.Y., dropped 52 cents to $194.03 in morning trading.

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