IBM (NYSE: IBM) today announced an agreement to acquire the business of RedPill Solutions, a privately-held company headquartered in Singapore.
RedPill provides advanced customer analytics services to businesses in industries such as financial services, telecommunications, technology and hospitality. Financial details were not disclosed.
RedPill's data models and expertise, developed through the successful execution of multiple analytics projects, will enhance IBM's current work to improve the speed and quality of clients' business decisions. Analytics services are also an integral part of IBM's Smarter Planet strategy, which helps companies turn information into a strategic asset, make smarter business decisions and better understand the outcomes of those decisions. The transaction further enhances IBM's consumer marketing and risk management capabilities in the previously mentioned industries.
"Our growth roadmap highlights analytics as a core element of Managed Business Process Services," said Randy Walker, general manager, IBM MBPS, Growth Markets. "RedPill has strong capabilities in research and analytical services in key growth markets that will enhance IBM's analytics services offerings."
"Analytics capability is now a necessity when competing in Business Process Outsourcing deals," said Pavan Vaish, chief executive officer for IBM Daksh. "With this acquisition IBM is building an advanced analytics capability that will provide a competitive edge and differentiation - particularly in the areas of financial services and telecommunications."
"Becoming a part of IBM will allow RedPill to leverage IBM's reach, technology prowess and resources, and offer its expertise to a wider global market," said Suresh Shankar, chief executive officer, RedPill. "IBM's Smarter Planet agenda has analytics at its core, making it the industry's most comprehensive vision for the future direction of business analytics. We are truly excited to be a part of that vision."
The deal is subject to required statutory approvals and regulatory reviews and customary closing conditions. The transaction is expected to close later this year.