IBM has entered into an agreement to acquire Lombardi Software, a SMH Private Equity Group portfolio company based in Austin, Texas.
SMH Private Equity Group is a division of Sanders Morris Harris Group.
Lombardi, a provider of business process management software and services, helps organisations automate and integrate business processes to increase efficiencies and reduce costs.
This is the third major private equity investment exit in the past 12 months for SMH, following the sale of Wayport to AT&T and New England Pantry to 7-Eleven.
