ARMONK, N.Y., March 19, 2013 /PRNewswire/ -- IBM (NYSE: IBM) today announced it has completed the acquisition of 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 clients to easily access financial information stored in their applications, allowing them to make more informed decisions faster.
Star Analytics software addresses a rising challenge for organizations -- helping to automatically integrate essential information, reporting applications and business analytics 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, and eliminates manual processes that are cumbersome and time consuming."Applying analytics to a wide range of data requires organizations to democratize and speed sharing of critical information across an enterprise," said Les Rechan, IBM General Manager, Business Analytics. "Star Analytics' software advances IBM's efforts to deliver analytics that span all data sources directly into the hands of front line employees, and delivers a comprehensive approach to helping clients uncover new, untapped growth opportunities." Star Analytics' software, combined with IBM's R&D and prior acquisitions in business analytics including Varicent, Algorithmics, Clarity Systems, OpenPages and Cognos, and recent investments in predictive analytics such as SPSS, will provide clients with a broad range of business analytics solutions. These acquisitions are part of IBM's larger focus on analytics, which spans hardware, software, services and research. The news supports IBM's long-term growth strategy to expand the company's business analytics and optimization software and services capabilities, an area of IBM's business that is expected to reach $20 billion in revenue by 2015. IBM has established one of the world's deepest portfolios of 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 can help businesses and governments unlock the power of big data.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts