IBM said it plans to acquire OpenPages, a Waltham, Mass., firm that provides an integrated suite of software for managing compliance and operational risks throughout an organization.
Terms were not disclosed.
The move, IBM said, will help expand its business analytics business, to support compliance and risk management processes. OpenPages software allows businesses to develop a picture of a wide range of enterprise risks, including operational risk, information technology risk, compliance risk and financial controls. OpenPages software is designed to give a comprehensive view of risks and highlight inconsistencies in meeting goals set for meeting compliance mandates and risk controls.
OpenPages' software provides an integrated look at operational, compliance, financial control, technology and other risks in an enterprise.
IBM said it would allow it to provide customers with an "enterprise-wide picture of all exposures, helping CFOs and CIOs understand how these risks can impact the organization's future performance."
"Unforeseen risk can hurt a company's bottom line as well as its brand reputation," said Rob Ashe, general manager, business analytics, IBM. "Integrating risk management systems across once-divided units and functions is essential to seeing the bigger picture. The combination of IBM and OpenPages will provide a holistic and consistent approach to risk management helping companies combine that insight with performance management to drive better decision making."
Customers using OpenPages compliance and risk evaluation software include Allianz, Barclays and TIAA.
The acquisition is subject to regulatory review and other customary closing conditions. IBM intends to integrate OpenPages within IBM's Business Analytics software operation.
This article can also be found at SecuritiesTechnologyMonitor.com.
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