IBM on Monday said it has acquired Hakkoda, an information and AI consultancy primarily based in New York.
The acquisition would “additional increase” IBM’s capacity to deliver consultants and AI to shoppers, notably clients in industries like monetary providers, public sector, and healthcare and life sciences, stated Mohamad Ali, SVP and head of IBM’s consulting enterprise, in a press release.
“With Hakkoda’s information experience, deep expertise partnerships, and asset-centric supply mannequin, IBM can be even better-positioned to ship worth sooner to shoppers as they rework with AI,” Ali stated.
Monetary phrases of the deal weren’t disclosed.
The deal comes as IBM continues to ramp up its investments in AI and automation applied sciences. In February, the corporate acquired DataStax, a platform for constructing AI apps, and it just lately finalized its buy of infrastructure and safety automation agency HashiCorp.
The technique has borne fruit for IBM. In This fall 2024, the corporate, which makes the majority of its AI earnings from consulting, recorded its biggest revenue jump in 5 years — sending its inventory hovering 10%. IBM stated on the time that AI bookings and gross sales stood at over $5 billion inception-to-date.
Co-founded in 2021 by ex-Deloitte GM Erik Duffield, Hakkoda helps clients transfer information to the cloud – specifically, the Snowflake information cloud. The startup affords a spread of instruments to assist companies migrate and rework information, in addition to merchandise to “modernize” information from older techniques.
The startup had managed to lift a complete of $5.6 million in enterprise capital, according to Crunchbase. Its backers embrace Tercera, Lead Edge Capital and Casimir Holdings.
Duffield stated Hakkoda’s tons of of consultants throughout the U.S., Latin America, India, Europe, and the U.Okay. will be a part of IBM’s consulting division as a part of the deal.
“From the start, Hakkoda has dedicated to being ‘within the enviornment,’ not observing the best transformation in historical past however shaping it,” Duffield stated in a press release. “IBM’s heritage of innovation, their dedication to discovery, and deep partnerships with shoppers on their most technical challenges [are] an ideal pairing to take Hakkoda’s industry-focused trendy information consulting to the worldwide market.”