IBM Corporation has agreed to buy Telelogic AB, a Swedish developer of software development tools, for about $745 million in cash. If shareholders and government agencies approve the deal, Telelogic would become part of IBM's Rational Software unit. Telelogic makes application lifecycle management products for managing complex software development projects, business process management tools and other products. Telelogic has about 8,000 customers, mostly in the aerospace, defense, telecommunications and electronics industries, according to an IBM statement posted on Telelogic's Web site. Offering an example of how the two companies' products might be used together, IBM said an electronics vendor might use their software to design a smart home network for consumers that can control entertainment equipment, security systems and lighting.
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