IBM buying Coremetrics; company helps target ads

ARMONK, N.Y. (AP) - IBM said Tuesday it would buy Coremetrics Inc., an Internet research company company that helps businesses better target their online marketing campaigns.

IBM didn't say how much it is paying for the privately held company, which is based in San Mateo, Calif.

Coremetrics customers include Bank of America Corp., Holiday Inn, and Petco among others, IBM said.

Shares of IBM Corp. rose 65 cents to $129.15 in premarket trading.