IBM on Friday announced a definitive agreement to acquire the software portfolio of Star Analytics, a privately held business analytics company headquartered in Redwood City, Calif. Financial terms were not disclosed.
The combination of IBM and Star Analytics software is expected to further advance IBM's business analytics initiatives, allowing organizations to gain faster access and real-time insight into specialized data sources.
Star Analytics software helps to automatically integrate essential information, reporting applications, and business intelligence tools across their enterprises, on premises or from cloud computing environments. The software removes typical custom coding for specialized sources and eliminates manual processes.
"IBM sees an enormous opportunity for our clients to apply Star Analytics to the information they have stored in their financial applications and to then easily access it within their IBM performance management and business intelligence solutions," said Leslie Rachan, general manager of IBM Business Analytics, in a statement.
"Star Analytics software allows organizations to move critical analytics source data at will and use it regardless of which application they need to use it with, providing both flexibility and accessibility," said Quinlan Eddy, CEO of Star Analytics, in the statement. "As part of IBM, we can now bring our technologies to a broader range of clients to help them uncover new, untapped growth opportunities."