To support compliance and risk management processes
IBM has signed an agreement to acquire Waltham, MA based risk management and compliance specialist OpenPages.
IBM said that this acquisition expands its business analytics capabilities to support compliance and risk management processes.
OpenPages client and partner investments in existing IBM and OpenPages technologies will be preserved, allowing customers to take advantage of a range of capabilities without need to replace existing systems.
IBM business analytics general manager Rob Ashe said that the combination of IBM and OpenPages will provide a consistent approach to risk management helping companies combine that insight with performance management to drive efficient decision making.
"Unforeseen risk can hurt a company’s bottom line as well as its brand reputation. Integrating risk management systems across once-divided units and functions is essential to seeing the bigger picture," Ashe added.
"Everyday we hear first hand about the risk and compliance management issues that businesses face, and its clear that a new information architecture is needed to delivery valuable risk intelligence that empowers risk-based decision making," said Michael Duffy, president and CEO, OpenPages. "The combination of IBM and OpenPages software, business process insights and industry expertise will address this need, helping businesses tackle their complex risk challenges".
The acquisition is subject to applicable regulatory clearances and other customary closing conditions. Following the close of the acquisition, IBM intends to integrate OpenPages within its Business Analytics software portfolio.
Financial terms were not disclosed.