IBM jumps in the “big data” rush as it announced two major acquisitions in two days. On Wednesday, Big Blue announced that it will acquire security intelligence analytics company i2 in its hopes to grow its business analytics initiatives and help clients in the public and private sectors address crime, fraud and security threats. i2 provides intelligence analytics for crime and fraud prevention based in Cambridge, UK with US headquarters in McLean, Va. and will be integrated into IBM’s Software Group. The amount of the acquisition was not disclosed.
“The combined capabilities of IBM and i2 will help customers uncover patterns and trends that will allow them to more effectively protect the privacy and safety of citizens, businesses and governments,” IBM Industry Solutions general manager Craig Hayman stated.
The second major buy was revealed earlier today. IBM announced the deal to acquire Algorithmics, a risk analytics software and advisory service based in Toronto for $387 million to bolster its risk management offerings during a time of increased regulation of financial markets. IBM will acquire the company from Fitch Group, whose majority of shares belongs to Fimalac, a Paris-based holding company. The deal is still subjected to regulatory approval.
Clients of Algorithmics include 25 of the top 30 banks. Some of which are The Allianz Group, BlueCrest, HSBC, Nedbank, Nomura, Societe Generale, and Scotia Capital.
“Combining Algorithmics’ expertise with IBM’s deep analytics portfolio will allow clients to take a more holistic approach to managing risk and responding to economic change across their enterprises,” stated Rob Ashe, IBM’s current general manager of business analytics.
Over the course of five years, IBM already spent $14 billion in acquisitions, which includes their purchase of SPSS statistical software in 2009 for $1.2 billion. Soon after that, they also acquired Ounce Labs, makers of software that allows companies to assess risks in their programming code, for an undisclosed amount.
IBM is taking giant steps in its aim to dominate in the software sector with these acquisitions along with the timely release of new software designs that aids organizations embrace social networking using the broadest range of mobile devices. IBM is not alone in its quest to quench their thirst for big data, as an unnamed client fuels their colossal ambition to build the biggest data drive.
Latest posts by Mellisa Tolentino (see all)
- An oven that sees, thinks and teaches you to cook - July 1, 2015
- Best smart light switches for renters, luxury homes and more - June 30, 2015
- Smart World Problems: Smart cars could hold you ransom - June 30, 2015