(Bloomberg) -- International Business Machines Corp. agreed to buy Merge Healthcare Inc. for $1 billion, to incorporate the medical company’s imaging management platform with its Watson data analytics tool.

Merge’s shareholders will receive $7.13 a share, a 32 percent premium to Wednesday’s closing price. The all-cash deal, subject to regulatory review and approval from Merge’s investors, is expected to close later this year, the companies said Thursday in a statement.

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