Chennai: IT major IBM on Tuesday announced an
agreement to acquire the business of RedPill Solutions, a
privately-held company headquartered in Singapore.
RedPill provides advanced customer analytic services to
businesses in industries such as financial services,
telecommunications, technology and hospitality, according to a
company release in Chennai.
However, financial details were not disclosed.
RedPills data models and expertise, developed through
the successful execution of multiple analytic projects, would
enhance IBMs current work to improve the speed and quality of
clients business decisions, the release said.
Analytic services were also an integral part of IBMs
Smarter Planet strategy, which helped companies turn
information into a strategic asset, make smarter business
decisions and better understand the outcomes of those
decisions, the release said.
The transaction further enhances IBMs consumer marketing
and risk management capabilities in the previously mentioned
The deal is subject to required statutory approvals and
regulatory reviews and customary closing conditions.
The transaction was expected to close later this year,
the release said.
First Published: Tuesday, September 22, 2009, 13:06