IBM Corp. (NYSE: IBM) Is buying Silverpop, a company backed by student-run Wolverine Venture Fund.
Silverpop, headquartered in Atlanta, develops software that provides marketing automation and real-time personalization services that provide customer information to marketers. Terms of the deal were not disclosed.
Wolverine Venture Fund is managed by students at Zell Lurie Institute for Entrepreneurial Studies at the University of Michigan Ross School of Business. This is the Wolverine fund's fourth exit since it was formed in 1997. The fund has invested in more than 36 companies. Silverpop's other VC backers include D.E. Shaw & Co., Draper Fisher Jurveston, Escalate Capital Partners and Silicon Valley Bank.
Armonk, N.Y.-based technology group IBM agreed to buy Cloudant, which provides database-as-a-service cloud software, in February. Before that, in October, the company bought Now Factory, which provides analytics software.