IBM Beefs Up Compliance Arsenal With OpenPages Buy
Big Blue picks up a security software firm that specializes in managing enterprise compliance and risk management through a single management system.
IBM announced it will acquire OpenPages, a privately held developer of enterprise compliance and risk management software, adding yet another piece to its growing security software arsenal.
Financial terms of the deal were not disclosed.
OpenPages, based in Waltham, Mass., makes software that makes it easier for companies to identify and manage risk and compliance issues throughout their various data networks.
IBM (NYSE: IBM) officials said OpenPages' applications and employees will be folded into its business analytics unit, one of Big Blue's fastest-growing divisions.
"Unforeseen risk can hurt a company's bottom line as well as its brand reputation," Rob Ashe, general manager of IBM's business analytics group, said in a statement. "Integrating risk management systems across once-divided units and functions is essential to seeing the bigger picture."
OpenPages, whose top customers include the likes of Barclays, Carnival Corp., SunTrust and Duke Energy, has already partnered with IBM to build out the core data system for the Operational Riskdata eXchange Association, a consortium of 55-plus major banks based in 18 different countries.
In August, IBM acquired Datacap, a privately held developer of enterprise content management software used to capture and distribute unstructured data from invoices, claim forms and tax returns.
IBM further bolstered its security suite in July when it gobbled up Big Fix, a provider of technology that enables enterprises to manage endpoint security and compliance.