RESEARCH TRIANGLE PARK – Looking to drive more business to its cloud offerings, IBM on Monday said it is buying Chicago-based TruQua Enterprises which focuses on finance and analytics solutions and has a lengthy list of Fortune 500 clients.
The deal comes even as IBM prepares to split into two companies, one focused on cloud and artificial intelligence, the other on providing services.
IBM describes the move as “part of IBM’s hybrid cloud growth strategy to drive digital transformation for clients” which is built in large part on its $32 billion acquisition of Raleigh-based Red Hat.
TruQua’s area of widely recognized expertise is working with large enterprise firms – including many in the Fortune 500 – on SAP development.
Financial terms weren’t disclosed. Making the deal more interesting is the services sector play.
Who is TruQua?
TruQua Enterprises is an IT services, consulting, and licensed SAP development partner that specializes in providing “True Quality” SAP solutions to Fortune 500 companies with integrated, end-to-end analytic solutions. Through project management, software innovation, thought leadership, implementation and deployment strategies, TruQua’s team delivers high value services through its proprietary knowledge base of software add-ons, development libraries, best practices, solution research and blueprint designs. SAP S/4HANA, SAP Central Finance, SAP Financial and Supply Chain Planning and Forecasting (BPC, SAC, IBP), SAP Financial Consolidation (Group Reporting, BPC, EC-CS), SAP Analytics Cloud, Profitability Analysis and Cost Allocations (CO-PA, PaPM), Data Warehousing (HANA, BW/4HANA), SAP Cloud Platform, Machine Learning/AI, BlackLine and Magnitude Solutions
“The acquisition surfaces even as IBM prepares to spin off many of its more mature IT consulting and services businesses — particularly in the managed infrastructure services sector,” notes Channele2e.com.
“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 towards supporting Chief Financial Officers’ strategic initiatives,” said Rahul Kalia, Global Managing Partner for Enterprise Cloud Applications at IBM Services. “IBM will leverage TruQua’s extensive experience in SAP S/4HANA Finance & Group Reporting solutions to deliver better business outcomes, enabled by intelligent workflows and hybrid cloud.”
With the deal, IBM says it will “broaden its consulting expertise and capabilities to help clients implement SAP solutions that will improve and automate financial management workflows, enhance operational efficiency, and, ultimately, drive an enterprise-wide transformation through the adoption of SAP S/4HANA, the latest generation of SAP’s ERP business suite.”
TruQua has worked with more than 400 businesses on SAP projects, IBM noted.
The deal is expected to close before the end of the year.
IBM operates one of its largest campuses in RTP and employes several thousand people across North Carolina.