Continuing its string of software acquisitions, IBM is acquiring business intelligence software firm Cognos for $4.9 billion in an all cash transaction.

Cognos’ products are said to be complementary to IBM’s database and middleware components.

The deal values Cognos at $58 per share, 9.5% higher than its closing price on Friday.

IBM executives said that as of the last quarter, Cognos’ trailing twelve month revenue was about $1 billion.

Cognos has 4,000 employees worldwide and 25,000 customers.  

The deal is expected to close in Q1 of next year.