As of December 20, 2005, Bowstreet, Inc. was acquired by International Business Machines Corp. Bowstreet, Inc. provides application development tools for portals, prepackaged composite applications, and distributed Web-based services. It offers enterprise portal solutions, custom portlet creation tools, and distribution solutions. The company’s development tools enable the companies to create, manage, and deploy Web-based applications. Bowstreet, Inc. also offers support, training, and consulting services. It serves the travel, healthcare, financial services, manufacturing, and insurance industries through reseller, consulting, and OEM partnerships in the North America, Europe, and Asia Pacific. The company was founded in 1998 and is headquartered in Tewksbury, Massachusetts.