Platinum Technology has signed a definitive agreement to acquire UK-based Learmonth & Burchett Management Systems (LBMS) in a stock swap deal, estimated to be worth $70 million. LBMS will become a wholly owned subsidiary of Platinum and the deal is expected to be completed next quarter. Platinum plans to integrate LBMS' project and process management tools for application development with its own rival Advantage suite of products.
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