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IBM and Cognos have announced the two companies have entered into a definitive agreement for IBM to acquire Cognos, a publicly held company based in Ottawa, Ontario, Canada, in an all-cash transaction at a price of approximately $5 billion, or $58 per share. The acquisition is subject to Cognos shareholder approval, regulatory approvals, and other customary closing conditions. It is expected to close in the first quarter of 2008.

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