IBM said Monday that it has acquired TruQua, an IT services and consulting company focused on SAP's finance and analytics technologies. Big Blue said the deal will support its hybrid growth strategy and expand its breadth of consulting services.
As part of the deal, IBM Services will gain TruQua's expertise in implementing SAP finance planning and analytics services. IBM and SAP have had a long-standing partnership in the enterprise, with more than 5,500 completed projects between the two companies.
"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 of Enterprise Cloud Applications for IBM.
"IBM will leverage TruQua's extensive experience in SAP S/4HANA Finance and Group Reporting solutions to deliver better business outcomes, enabled by intelligent workflows and hybrid cloud."
IBM said the deal is expected to close in Q4 2020. Financial terms of the deal were not disclosed