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IBM announced the completion of its approximately US $845 million (approximately 5 billion Swedish Kronor) tender offer for the shares of Telelogic, a provider of software to develop technical systems and enterprise architecture. The tender offer, announced on June 11, 2007, was finalized after IBM obtained acceptance from 98.7% of stock ownership in Telelogic as well as satisfaction of other conditions of the offer, including necessary worldwide regulatory approvals. Headquartered in Malmo, Sweden, and Irvine, California, Telelogic has more than 8,000 customers worldwide and operations in 22 countries around the world. In India, Telelogic has a headcount of approx. 300 who will be integrated into IBM India towards the end of 2008. According to Ken King, vice president and Telelogic integration executive, IBM Software, with the acquisition closure, Telelogic now becomes 'an IBM company'. "The integrated product and technology roadmap will illustrate incremental value to our systems and IT customers across Telelogic and Rational. India has a unique advantage with this acquisition as we gain not just from the business perspective, but also from the strong skill-set that Telelogic has here." Together, IBM, Telelogic, and business partners will now be able to deliver high-quality systems to the market faster while reducing costs. Customers will benefit from the combined technologies and services of both companies, providing them a wide range of software and system development capabilities, along with support from a worldwide sales and services organization. "Telelogic is an important element of our software and systems development and delivery strategy," said Dr. Daniel Sabbah, general manager, IBM Rational Software. "Software is at the heart of embedded devices and systems. This IBM technology has important implications for society." Telelogic will report into the IBM Rational Software unit. In consonance with IBM's software strategy, Telelogic clients' and partners' investments in existing IBM and Telelogic technologies will be preserved, allowing customers to take advantage of the broader set of capabilities without the need to replace existing systems, the company said. Since 1995, IBM has invested more than $18 billion on public acquisitions, making it the most acquisitive company in the technology industry, based on volume of transactions. Other strategic acquisitions in support of IBM s software and systems development and delivery strategy include BuildForge (build and release management), SystemCorp (project and portfolio management) and Watchfire (Web application security).