In yet another move to bolster its hybrid cloud roster, IBM has bought SAP partner TruQua Enterprise.
TruQua, which was co-founded 10 years ago by David Dixon and Scott Cairncross, is an IT services and consulting SAP development partner that specializes in finance and analytics technologies that are used by Fortune 500 companies.
IBM said the deal would provide Big Blue with more expertise for migrating financial platforms to SAP in order to help businesses modernize their financial processes. It will enables businesses to shift from legacy enterprise systems and siloed processes to cloud-based integrated and streamlined finance functions such as cash flow, budgeting, and consolidations, according to IBM.
SAP has said that by 2025 it will no longer support on-premises database platforms, which now requires customers to make the move to a SAP S/4HANA environment. On that note, IBM has completed more than 5,500 successful SAP projects and helped more than 400 businesses transform their enterprise systems with SAP S/4HANA.
TruQua will enable IBM to 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.
"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 IBM Services' Rahul Kalia, global managing partner for enterprise cloud applications, in a statement. "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."
Financial terms of the deal, which is slated to close in the fourth quarter of this year, weren't available.
As part of its ongoing hybrid cloud build up, IBM recently announced its Cloud for Telecommunications platform, which is new hybrid cloud platform that draws a bead on 5G.
IBM CEO Arvind Krishna, who was formerly in charge of IBM's cloud division prior to taking over as CEO in April, has doubled-down on IBM's hybrid cloud business as it seeks to close the gap on market leaders Amazon Web Services, Microsoft Azure and Google. Last month, IBM announced it was splitting into two companies by the end of next year in order to better focus on its high margin cloud growth.