By Tolkoff, Sarah Big Blue Builds Orange County Empire Being bought by IBM CoYp. is "like I inherited a rich uncle." says Lee Roberts, head of Big Blue's Costa Mesa software unit. In October. IBM paid $1.5 billion for FileNet Corp., where Roberts was chief executive for nearly a decade.

IBM Corp has expanded its on Demand initiative with new products and services aimed at its content management business. The Armonk, New York-based IT giant debuted its new FileNet P8 4.0, a content management and records management system based on its recent acquisition of FileNet Corp.

By Womack, Brian TECHNOLOGY: Roberts to get $24M; other suitors Lee Roberts, who started seeking buyers for FileNet Corp. more than a year ago, will see his patience rewarded with a compensation package of $24 million when the software company becomes part of IBM Corp.

By Bloomberg, AP and Staff Reports IBM Corp. took another step to build out its software portfolio Thursday by announcing a $1.6 billion acquisition of FileNet Corp., which helps companies route data through business applications.

By Brian Bergstein Associated Press BOSTON -- IBM Corp. took another step to build out its software portfolio Thursday by announcing a $1.6 billion acquisition of FileNet Corp., a maker of software that helps companies route data through business applications.