IBM is once again in heavy stake-buying mode and its latest target is an existing partner, integrated banking applications software developer Hogan Systems Inc of Dallas. IBM has taken a 5% stake in the company on undisclosed terms and extended and revised the agreement under which it markets Hogan’s products on an exclusive basis in the US, Canada and Puerto Rico. Under the new agreement, which runs to June 30, 1995, IBM will also provide product development funding to Hogan and will now pay Hogan 50% of the royalties, support and other fees it gets where previously it paid a guaranteed $9.6m annually.
