It's time for shopping 🙂
Microsoft, after the non agreement with Yahoo, is looking to grow within the Internet/cloud space. Yahoo was not a strategy but more a tactic to go quicker to where Microsoft wants to be. So Microsoft bought CIAO (http://www.ciao.com/) to probably integrate the service into Live and Live search. Not really a major acquisition but it's good to see that Microsoft is going on.
In the same time, IBM is looking to buy ILOG. I'm sad for ILOG if this happen as they have some good products with a cross platform approach (like Ilog rules for .NET). In the past and most recent history, IBM has been using their new acquisitions to maximize the service penetration. IBM is not a software company and we can be worried about the future of ILOG’s softwares.