IBM this morning announced an agreement to acquire RedPill Solutions, a privately-held consultancy and business analytics service provider headquartered in Singapore.
The terms of the acquisition, which is expected to close later this year following statutory approvals, regulatory reviews and customary closing conditions, were not disclosed.
According to the release, IBM is buying RedPill because of its extensive data models and expertise gained by consulting companies primarily active in financial services, telecommunications, technology and hospitality. RedPill works for clients in 17 different countries, mostly in Asia Pacific and the Middle East, and currently has offices in Thailand, Singapore, Malaysia, Indonesia, India and the United Arab Emirates.
IBM says the new addition should enhance its current work to improve the speed and quality of clients' business decisions. Analytics services are also an integral part of IBM's Smarter Planet strategy, which helps companies turn information into a strategic asset, make smarter business decisions and better understand the outcomes of those decisions.
The acquisition of RedPill marks the fifth this year for International Business Machines. Earlier this year, the company acquired SPSS for approx. $1.2 billion in cash.