IBM (NYSE:IBM) announced today it would acquire TruQua Enterprises, a finance and analytics company in the IT and SAP industries. That becomes the latest purchase geared toward enhancing IBM's offerings in the hybrid cloud.
TruQua is a "brain trust" within both the IT and SAP industries. It provides consulting and implementation services, as well as technical expertise, software solutions, training, and support in the SAP environment.
IBM believes the acquisition will enhance its capabilities in migrating financial platforms to SAP. This will streamline processes in the cloud previously attached to legacy systems and processes siloed within those environments.
IBM has also maintained a long-standing partnership with SAP, completing more than 5,500 SAP projects, remolding the enterprise systems of more than 400 businesses. Now, with TruQua, IBM can further build on those capabilities.
Rahul Kalia, global managing partner for Enterprise Cloud Applications, IBM Services, emphasized TruQua's capabilities with SAP S/4HANA Finance & Group Reporting solutions: "Our clients are reimagining their core finance processes with cloud, AI, and other exponential technologies to drive increased value for their organizations. Our acquisition of TruQua further strengthens IBM's deep global expertise in finance and demonstrates our continued commitment toward supporting Chief Financial Officers' strategic initiatives."
Both of TruQua's founders also expressed optimism about its future with IBM.
"TruQua's 'Smart, Driven and Nice' consultants will be able to quickly add to IBM's already strong capabilities in the finance and analytics space," said Scott Cairncross, one of its founders.
The other founder, David Dixon, hailed the deal as "an amazing opportunity to amplify our differentiated knowledge assets via IBM's solution portfolio, global reach, and scale."
Neither company disclosed the financial terms of the deal. IBM expects it to close sometime in the fourth quarter of 2020.