IBM has signed a definitive agreement to acquire TruQua Enterprises. TruQua is a leading IT services and consulting SAP development partner, which delivers finance and analytics solutions to Fortune 500 companies.
The move is being touted as part of IBM’s hybrid cloud growth strategy to drive digital transformation for clients. With TruQua onboard, IBM will enhance its expertise in migrating financial platforms to SAP to help businesses modernize their financial processes. It will also help IBM improve upon its consulting expertise and capabilities to help clients implement SAP solutions to automate financial management workflows and enhance operational efficiency.
“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, Enterprise Cloud Applications, IBM Services.
The financial terms of the deal was not disclosed. But the transaction related to the deal is expected to close in Q4 2020.
“We are incredibly excited to join the IBM family. TruQua's 'Smart, Driven and Nice' consultants will be able to quickly add to IBM's already strong capabilities in the finance and analytics space,” said Scott Cairncross, TruQua co-founder.