IBM has completed its acquisition of Star Analytics, a firm that makes software designed to extract data and information from financial applications.
Terms of the deal were not disclosed.
By lumping in Star Analytics with IBM's Financial Performance Management unit — a division of Big Blue that focuses on analytics — the computing giant hopes that it can advance its clients' ability to easily access financial data in their applications, which in turn can allow for faster decision making.
In prepared remarks, IBM general manager for business analytics Les Rechan said:
Applying analytics to a wide range of data requires organizations to democratize and speed sharing of critical information across an enterprise. Star Analytics' software advances IBM's efforts to deliver analytics that span all data sources directly into the hands of front line employees, and delivers a comprehensive approach to helping clients uncover new, untapped growth opportunities.
Star Analytics' technology portfolio specifically allows for users to — simply put — tap into a wealth of financial data without having to go through cumbersome 'copy-and-paste'-like techniques; albeit on a massive, Big Data-like level.
In the acquisition, IBM said today that the deal will help the company achieve long-term growth to expand its business analytics optimization software and services capabilities. This area of IBM's business is expected to reach $20 billion in revenue by 2015.
IBM holds on to one of the largest portfolios of analytics and Big Data technologies, the company says.
Research firm Gartner said in October that IBM, along with Oracle and Microsoft will lead the Big Data analytics pack in the coming year.