IBM to acquire RedPill Solutions

IT major IBM on Tuesday announced an agreement to acquire the business of RedPill Solutions, a privately-held company headquartered in Singapore.

RedPill provides advanced customer analytic services to businesses in industries such as financial services, telecommunications, technology and hospitality, according to a company release here. However, financial details were not disclosed.

RedPills data models and expertise, developed through the successful execution of multiple analytic projects, would enhance IBMs current work to improve the speed and quality of clients' business decisions, the release said.

Analytic services were also an integral part of IBMs Smarter Planet strategy, which helped companies turn information into a strategic asset, make smarter business decisions and better understand the outcomes of those decisions, the release said.

The transaction further enhances IBMs consumer marketing and risk management capabilities in the previously mentioned industries. The deal is subject to required statutory approvals and regulatory reviews and customary closing conditions.

The transaction was expected to close later this year, the release said.