IBM Corp. said Friday it has closed its acquisition of AT&T Inc.'s Sterling Commerce unit, which makes software that helps businesses buy and sell to each other.
IBM had agreed to pay $1.4 billion in cash for Dublin, Ohio-based Sterling in May.
Sterling runs "collaboration networks," which lets businesses interact with vendors. Its customers include H.J. Heinz Co. and Motorola Inc.
AT&T said it expects to record a gain of about $800 million in the third quarter as a result of the sale.
Shares of International Business Machines Corp. closed up $1.95 at $124.73.
Shares of AT&T closed up 24 cents at $26.94.