International Business Machines Corp. (IBM) has hit its longest stretch without an acquisition in almost eight years, even as the company holds about $11 billion in cash on its balance sheet, Bloomberg reported. The company, which has made more than 100 deals in the past decade, last announced a purchase on Oct. 21, 2010, more than four months ago. That’s the longest period since May 2003, when an acquisition ended a five-month drought, according to Bloomberg data. If it lasts another 15 days, the dry spell would be the longest since Sam Palmisano became CEO. Palmisano has made more than $25 billion purchases in his nine years at the helm, steering the company toward software and services.