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The Associated Press September 20, 2010, 1:43PM ET

Teradata shares jump after IBM's Netezza bid

Investors looking for the next corporate takeover target pounced on Teradata Corp. on Monday, sending the company's shares higher.

THE SPARK: The jump came after IBM Corp. said it would buy Teradata competitor Netezza Corp. for $1.7 billion, or $27 per share. Both companies help organizations organize and sort through data on computer networks.

THE BIG PICTURE: Big tech providers such as IBM and Hewlett-Packard Co. have been snapping up smaller companies as they look to broaden their offerings for corporate customers.

IBM says it has spent $12 billion over the past four years buying companies that specialize in the same kind of analytics work that Teradata and Netezza do.

SHARE ACTION: Teradata shares rose $2.48, or 7.2 percent, to $36.95 in afternoon trading.

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