Chennai: IT major IBM on Tuesday announced an agreement to acquire the business of RedPill Solutions, a privately-held company headquartered in Singapore.
RedPill provides advanced customer analytical services to businesses in industries such as financial services, telecommunications, technology and hospitality, according to a company release here.
However, financial details of the deal were not disclosed. RedPills data models and expertise developed through the execution of multiple analytical projects would enhance IBM’s current work improving the speed and quality of clients’ business decisions, the release said.
Analytical services were also an integral part of IBM’s Smarter Planet strategy, which helped companies turn information into a strategic asset, make smarter business decisions and understand the outcomes of those decisions better, the release said.
The transaction further enhances IBM’s consumer marketing and risk management capabilities in the industries mentioned earlier.
The deal is subject to statutory approvals, regulatory reviews and customary closing conditions.
The transaction was expected to close later this year, the release said.