RESEARCH TRIANGLE PARK – For the second time in just a month IBM is making an acquisition designed to back its cloud strategy.
This time the target is Montreal-based Expertus Technologies.
In announcing the deal Tuesday, IBM said Expertus will help Big Blue boost end-to-end digital payments through its hybrid cloud offerings which it is building with Raleigh-based Red Hat.
IBM sees the cloud as a $1 trillion business opportunity and is focusing on hybrid – a mix of public and private – offerings.
Financial terms weren’t disclosed.
“Financial institutions must balance greater demand for secure digital solutions while complying with rapidly evolving regulation,” said Mark Foster, Senior Vice President of IBM Services, in announcing the deal. “Expertus’ payment-as-a-service solution expands our hybrid cloud-based payments offerings, transforming payments and treasury management with AI to give financial institutions the flexibility to rapidly innovate and stay competitive as consumer demands evolve.”
Expertus’ platform processes more than $50 billion in transactions a day and is used by more than 1,000 customers such as banks and regulatory agencies, IBM says.
“This acquisition also expands IBM’s finance industry depth and ability to manage complex integrations – of technologies, people and processes – and builds on last month’s acquisition of SAP consulting partner TruQua, which bolstered IBM Global Business Services’ cloud application modernization and finance transformation expertise,” IBM adds.
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