AI expansion: IBM snaps up Confluent in $11-billion deal; data streaming seen as key to faster AI deployment

IBM on Monday announced a major acquisition to strengthen its artificial intelligence capabilities, agreeing to buy data streaming platform Confluent in a cash deal valued at $11 billion.

The US technology major said it has signed a definitive agreement to acquire all issued and outstanding common stock of Confluent Inc. for $31 per share in cash, implying an enterprise value of $11 billion, according to a joint statement by the two companies, reported AP.