IBM to acquire TruQua Enterprises for undisclosed sum
IBM (NYSE: IBM) has reached a definitive agreement to acquire TruQua Enterprises, LLC, an IT services and consulting SAP development partner that specialises in delivering finance and analytics solutions to Fortune 500 companies.
Financial terms were not disclosed, but the company revealed the deal is expected to close in Q4 2020, subject to customary closing conditions.
This acquisition is set to enhance IBM's knowledge in migrating financial platforms to SAP to help businesses modernise their financial processes and be at the forefront of industry innovation according to the company.
TruQua will enable IBM to broaden its consulting capabilities to help clients implement SAP solutions that will improve and automate financial management workflows.
"Our clients are reimagining their core finance processes with cloud, AI and other exponential technologies to drive increased value for their organisations,” said Rahul Kalia, Global Managing Partner, Enterprise Cloud Applications, IBM Services.
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.
"IBM will leverage TruQua's extensive experience in SAP S/4HANA Finance & Group Reporting solutions to deliver better business outcomes, enabled by intelligent workflows and hybrid cloud."
Through its partnership with SAP, IBM has completed more than 5,500 SAP projects and helped more than 400 businesses transform their enterprise systems with SAP S/4HANA.
In June, IBM announced the next evolution of its partnership with SAP, after unveiling new industry offerings designed to help businesses accelerate the modernisation of workflows and systems.
"We are incredibly excited to join the IBM family. TruQua's 'Smart, Driven and Nice' consultants will be able to quickly add to IBM's already strong capabilities in the finance and analytics space," said Scott Cairncross, TruQua co-founder.
TruQua specializes in roadmap strategies, projects implementations, post-go-live support and software solutions in the areas of SAP Central Finance (CFIN), S/4HANA Finance for Group Reporting, SAP Analytics Cloud, SAP Cloud Platform, machine learning and other SAP intelligent technologies.
"We see an amazing opportunity to amplify our differentiated knowledge assets via IBM's solution portfolio, global reach and scale," said David Dixon, TruQua co-founder.