IBM to Buy Interest in Firm: International...

IBM to Buy Interest in Firm: International Business Machines said it has agreed to acquire about 10% of American Management Systems Inc. for $18 million to promote software development for use on IBM machines. IBM and American Management also will be entering into a multi-year agreement under which the Arlington, Va.-based company will develop application software for Armonk N.Y.-based IBM, the company said. IBM will be permitted to buy an additional 10% of American Management’s common stock in the open market, IBM said.