IBM has acquired data and AI consulting firm Hakkoda, in a move the company said will expand its data services and accelerate clients’ digital transformation efforts.
As part of the deal, IBM will gain access to Hakkoda’s portfolio of generative AI-powered assets that it said can be used to support “data modernization” projects, with particular use cases in financial services, public sector and health care and life sciences.
“With Hakkoda’s data expertise, deep technology partnerships and asset-centric delivery model, IBM will be even better positioned to deliver value faster to clients as they transform with AI,” Mohamad Ali, IBM’s senior vice president said in a statement.
IBM said the acquisition will strengthen its AI-powered delivery platform, IBM Consulting Advantage, helping bring consulting expertise and AI to clients.
The company also said the deal responds to a growing demand for integrated, efficient enterprise data systems.
Global spending on enterprise intelligence services is projected to rise from $169 billion to more than $243 billion by 2028, according to IDC. In this context, IBM highlighted the need for businesses to use smart data migration strategies and modern, cloud-based platforms to fully leverage their data.
The Hakkoda deal is the latest in a string of AI- and automation-focused acquisitions by IBM. In February, the company acquired AI app development platform DataStax and recently finalized a $6.4 billion deal for infrastructure and security automation firm HashiCorp.
IBM has also been expanding its consulting offerings through recent acquisitions, including Oracle consultancy Applications Software Technology and AWS-focused Skyarch Networks in Japan.
“IBM is at the leading edge of the consulting industry with how we’re supercharging our consultants with AI,” said Ali.
The acquisition closed on April 2. Financial details of the transaction were not disclosed.