IBM Acquires Corio in On Demand Play

IBM (Quote, Chart) threw more of its weight into the software "on demand" movement Tuesday with a deal to acquire applications management firm Corio (Quote, Chart) for $182 million in cash, or about $2.82 per share.

IBM said the acquisition is expected to strengthen its application services portfolio by adding Corio's capabilities and technologies, which specialize in rapid application deployment and automated application management for clients.