IBM buying British security data company i2

Financial terms of the transaction were not disclosed.

The Cambridge, England-based i2 has 350 employees and more than 4,500 customers in 150 countries in sectors such as banking, defense, health care, insurance, law enforcement, national security and retail.

IBM said i2 will help its clients deal with the exponential increase in data as they seek to combat fraud and security threats.

"IBM's goal is to better equip public safety officials and businesses with the information and tools they need to ensure safer cities," Craig Hayman, general manager of industry solutions at IBM, said in a statement.

"The combined capabilities of IBM and i2 will help customers uncover patterns and trends that will allow them to more effectively protect the privacy and safety of citizens, businesses and governments," Hayman said.

Robert Griffin, i2's CEO, said the combination of i2 and his company "will be compelling for clients seeking to enhance situational awareness and make connections between seemingly unrelated information from oceans of data."

(c) 2011 AFP