RESEARCH TRIANGLE PARK – IBM will acquire the automation technology company myInvenio, which is based in Reggio Emilia, Italy, as it further expands the tech giant’s committment to the growing cloud computing marklet.
IBM plans to integrate and use the company’s technology, a comprehensive automation portfolio for business automation, powered by artificial intelligence, to advance its hybrid cloud strategy in serving its enterprise clients.
“We have made decisive moves to help our clients thrive by tapping into the immense power of hybrid cloud and AI,” wrote Arvind Krishna, chairman and CEO of IBM in a letter to investors, calling their strategy a “clear path to growth.”
IBM’s strategy is reliant on the Red Hat OpenShift platform, which is the platform on which myInvenio built its product.
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Hybrid cloud computing combines public cloud computing and private cloud computing, allowing the transfer of data and applications to be shared between each. Typically, proprietary software enables communication between each distinct cloud service, and doing so is thought to provide businesses increased adaptability and flexibility as their business needs shift and change.
IBM acquired seven firms in 2020 with the goal of strengthening its position and to add to its hybrid cloud and AI portfolio, wrote Krishna, and the company has upwards of 40,000 clients who’ve expressed interest in working with IBM to “unlock value from their data” and 2,800 clients using the company’s hybrid cloud platform at the time the letter was released, representing a 40 percent increase year over year.
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IBM’s newest acquisition is aimed to provide its enterprise clients with software that can be used to understand the business processes that can be most improved through the use of automation, such as sales, procurement, production, or accounting.
“Digital transformation is accelerating across industries as companies face increasing challenges with managing critical IT systems and complex business applications that span the hybrid cloud landscape,” said Dinesh Nirmal, General Manager, IBM Automation, in a statement issued by the company.
Previously, IBM held an original equipment manufacturer (OEM) agreement with myInvenio. According to its statement, the process-mining software can examine accounts receivable by looking at the processes and interactions with ERP and invoicing systems, helping companies understand where productivity can increase and costs can be reduced. In addition, said IBM, automation could benefit companies in managing IT ticketing systems, and the software from myInvenio can help identify areas of opportunity within those processes and procedures that optimize a help desk employee’s time.
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The deal is expected to close at the end of the quarter, and financial details were not shared by the company.
“Hybrid cloud and AI are the two next great shifts in the technology landscape, and IBM is positioning itself to play a key role in this swift and massive transformation,” wrote Krishna. “We see the hybrid cloud opportunity at $1 trillion. Most of it is still ahead of us, as less than 25 percent of workloads have moved to public clouds thus far.”
