(PresseBox) (Armonk, N.Y., )IBM (NYSE: IBM) today announced a definitive agreement to acquire the software portfolio of Star Analytics Inc., a privately held business analytics company headquartered in Redwood City, California. Financial terms were not disclosed.
The combination of IBM and Star Analytics software will further advance IBM's business analytics initiatives, allowing organizations to gain faster access and real-time insight into specialized data sources. With growing challenges in gaining a more complete view into varying types of data, companies are increasingly looking for ways to automate and provide business users with self-service access to critical information.
Star Analytics software addresses a rising challenge for organizations -- helping to automatically integrate essential information, reporting applications and business intelligence tools across their enterprises, on premise or from cloud computing environments. The software removes typical custom coding for specialized sources that are hard to maintain. It also eliminates manual processes that are cumbersome and time consuming.
"IBM sees an enormous opportunity for our clients to apply Star Analytics to the information they have stored in their financial applications," said Leslie J Rechan, General Manager, IBM Business Analytics. "And to then easily access it within their IBM performance management and business intelligence solutions."
"Star Analytics software allows organizations to move critical analytics source data at will and use it regardless of which application they need to use it with, providing both flexibility and accessibility," said Quinlan Eddy, CEO, Star Analytics. "As part of IBM, we can now bring our technologies to a broader range of clients to help them uncover new, untapped growth opportunities."
IBM has established the world's deepest portfolio of Smarter Analytics and Big Data technologies and industry expertise, including almost 9,000 dedicated business analytics and optimization consultants, and 400 researchers. Nearly 500 of the patents from IBM's record breaking 20th year of innovation will serve as the building blocks for future analytics innovations that will help businesses and governments unlock the power of big data.
The acquisition is subject to customary closing conditions and is expected to be completed in the first quarter of 2013.