MORRISTOWN, NJ – IBM has acquired Armanta, which sells aggregation and analytics software to financial services firms. Financial details were not disclosed.
Armanta will become part of IBM’s Watson Financial Services division.
Armanta’s platform lets financial institutions quickly aggregate data across multiple systems to enhance decisions and regulatory compliance.
In a blog post, IBM said: “Over the past two years, Armanta and IBM have worked together to deliver financial risk solutions to clients globally. The combination of IBM’s and Armanta’s technology and expertise has allowed IBM to deliver new offerings that have already been adopted in the market. Armanta’s technology has not only enhanced our existing solutions, but also allowed IBM to rapidly develop new offerings for clients.”
The acquisition will help IBM clients integrate their risk management practices with other front and back-office funtions, while establishing a common set of data analytics and reports for consistency, according to the blog post.