July 22 (Bloomberg) -- International Business Machines Corp., the world’s biggest computer-services provider, appointed Kevin Reardon as head of mergers and acquisitions, according to a person with direct knowledge of the situation.
Reardon, who has been general manager of intellectual property at IBM, is taking over from Elias Mendoza, the former global head of corporate development, said the person who declined to be identified because IBM hasn’t announced the move. Mendoza joined Union Square Advisors LLC as a partner in New York, the firm said in a statement July 20.
IBM, which has made more than 100 deals in the past decade, said last year it plans to spend about $20 billion on acquisitions through 2015. The Armonk, New York-based company had $11.7 billion in cash at the end of June.
IBM made 23 acquisitions worth $4.26 billion since Mendoza took over M&A in June 2009, according to data compiled by Bloomberg. Over that time, IBM’s biggest deal was the $1.7 billion purchase of analytics-technology provider Netezza Corp last year. The company has announced only one deal this year, according to Bloomberg data.
Mendoza, who joined IBM in 2006 as head of corporate development in Japan and growth markets, previously worked for Morgan Stanley in New York, London and Tokyo.
Doug Shelton, an IBM spokesman, declined to comment.
IBM climbed $1.25 to $184.90 yesterday in New York Stock Exchange trading, and had gained 26 percent this year before today.
--Editors: Peter Elstrom, Elizabeth Wollman
To contact the reporter on this story: Serena Saitto in New York at email@example.com.
To contact the editor responsible for this story: Jennifer Sondag at firstname.lastname@example.org; Peter Elstrom in New York at email@example.com.