International Business Machines Corp., Armonk, N.Y., has agreed to buy a Southeastern computer processing services business.[@@]
IBM plans to acquire Liberty Insurance Services Corp., Greenville, S.C., from RBC Insurance, a division of Royal Bank of Canada, Toronto.
The price of the deal and other terms were not disclosed. IBM says it hopes to complete the acquisition by Dec. 31.
After the acquisition, Liberty will handle life and annuity policy processing for more than a dozen life insurance companies worldwide, IBM says.