This week, IBM announced two acquisitions in the field of cloud computing: financial and analytical IT company TruQua Enterprises and software company Instana. The financial terms of the two agreements were not disclosed.
On Monday, IBM announced the acquisition of TruQua, which provides SAP solutions to Fortune 500 companies. SAP is one of the world’s most popular financial accounting and reporting software used to manage and plan corporate finance.
According to the press release, the acquisition will help IBM “in the transfer of financial platforms of customers to SAP”, i.e will change outdated corporate systems and fragmented financial processes to integrated cloud functions that optimize processes such as cash flow, budgeting, consolidation, etc.
BM’s existing arsenal of cloud services and hybrid services will complement TruQua’s offerings to provide customer with more capabilities.
“Our clients are rethinking their core financial processes with cloud technology, artificial intelligence and other technologies to increase value for their organizations. Our acquisition of TruQua strengthens IBM’s deep global finance experience and demonstrates our continued commitment to supporting CFOs’ strategic initiatives, “said Rahul Kalia, Global Managing Partner, Enterprise Cloud Applications, IBM Services.” IBM will leverage TruQua’s extensive experience SAP S / 4HANA Finance & Group Reporting solutions to improve business results through intelligent workflows and a hybrid cloud. ”
“We see a great opportunity to expand our differentiated knowledge assets through IBM’s portfolio of solutions, global reach and scale,” said co-founder of TruQua, David Dickson.
The companies expect the agreement to close in the fourth quarter of 2020, after fulfilling the usual conditions of closure and approval by regulators.
Purchase of IBM Instana
On Wednesday, IBM announced the acquisition of Instana, an application performance management company that offers its services either locally or as a “software as a service” (SaaS) solution, depending on customer needs.”
With the acquisition of Instana, IBM will help companies address application performance management across multiple teams and an average of 2-15 clouds,” the press release said.
This acquisition is in line with IBM’s other efforts and the launch of IBM Watson AIOps earlier this year. The company’s artificial intelligence (AI) aims to automate businesses self-detect, diagnose and respond to IT anomalies in real life time. The purchase is also logical in light of the acquisition of Red Hat in 2018, which is the backbone of IBM’s hybrid cloud business.
Instana solutions and existing IBM service solutions will help companies reduce operational risk and reduce costs by using AI to automate IT operations.
Given the rapid transition of enterprises to digital business solutions, such services and solutions will be in demand and should bring profit to IBM.
US International Business Machines Corp. (IBM) slightly increased its net profit in the third quarter of 2020, despite on the declining revenue in the context of the coronavirus pandemic, forcing businesses to delay implementation of projects to preserve capital. According to the press release of the company, Net income in July-September was $ 1.7 billion, […]
According to the Investor`s news, in 2020, the volume of transactions worldwide mergers and acquisitions (M & A) totaled $ 1.97 trillion. The publication noted that major transactions between IT-companies account for almost one fifth of the total. According to the global data provider and stock market infrastructure Refinitiv, the volume of the deals of […]
Warren Buffett’s US company – Berkshire Hathaway intends to invest more than $ 570 million in Snowflake, a cloud technology company. It was reported after Snowflake announced a price range for its future initial public offering. The company wants to get the estimate of $ 23.7 billion, writes the Financial Times. Snowflake said that during […]
The IMF said that the continuation of Ukraine’s financial support program depends on the independence of NABU, SAP and HACCUkraine. This was stated by the representative of the International Monetary Fund Jerry Rice, on September 10 in Washington. “I can say that the creation of an effective anti-corruption base for Ukraine has been a crucial […]
Corporation of International Business Machines Corp on Monday announced an edition of a new central processing unit (CPU) for data centers POWER10. According to the company’s press release, the processor is made in the form factor of 7 nm with increased energy efficiency and three times better workload capacity than the previous generation of IBM […]
Ukraine will allocate 2.6 billion hryvnias for the purchase of a coronavirus vaccine. This was stated by Finance Minister Serhiy Marchenko at the press conference on Monday, September 14. “By 2023, we have a real opportunity to ensure health care spending at 5%. There is an increase in 2021 to 4.2% of GDP for health […]Next
The Council of the European Union approved funding in the amount of 87.4 billion euro for the Member States in the form of the loans under the SURE – temporary EU instruments to reduce the risk of unemployment during the pandemic coronavirus COVID-19. This support should help for the Member States to finance sharp increase […]Next
The State Property Fund sold the second object of the alcohol industry – Artemivsk distillery – for 50 million hryvnias. This was reported by the press service of the State Property Fund on Facebook. “The auction for the sale of the property of Artemivsk MTD and the storage of alcohol has just ended. This is […]Next
The first license for an online casino in Ukraine was issued to SpaceX LLC. The Commission for Regulation of Gambling and Lotteries made the relevant decision on Tuesday, February 2. The license entitles the company to carry out “activities related to the organization and conduct of casino games on the Internet” legally. Serhiy Potapov is […]Next
The robotics company Miso Robotics has launched the robot Flippy, which is able to replace part of the staff in the kitchen of the restaurant. “Flippy goes on sale in the midst of the pandemic and supports the cooking of 19 different dishes, including fries and burgers made of the artificial meat of the Impossible […]Next
Two state banks have filed a lawsuit against the Creative regarding the reimbursement of debts. In particular, Ukreximbank wants to recover 57.71 million UAH and $ 7.84 million of arrears on the loan agreement dated November 17, 2008. Also Oschadbank wants to compensate another $ 25.24 million. In addition, Piraeus Bank ICB is trying to […]Next
According to Forbes, the fortune of the world richest man, the head of the American corporation Amazon, Jeff Bezos, has exceeded a record $180 billion. It is noted that Bezos’ fortune increased because of rising share value of his company Amazon. According to the publication, Amazon’s capitalization reached $1.54 trillion. Thus, Bezos’ fortune (he owns […]Next
The American division of the automaker Volkswagen AG reported a data leak, which affected more than 3.3 million customers and potential buyers in North America. Reuters with reference to the Volkswagen Group of America reported this. “The leak occurred after one of the company’s suppliers in the period between August 2019 and May 2021 left […]Next
Нові кредити за програмою 5–7–9 видаватимуть під ставку до 20%, повідомив прем’єр-міністр Денис Шмігаль. “Серед урядових рішень, які сьогодні приймаємо задля відновлення економічної активності, – це зміни в положення про програми цільового кредитування. Після підвищення облікової ставки з боку НБУ такі програми загальмували. Про це говорить бізнес. Тому уряд сьогодні внесе зміни, які дозволять прибрати […]Next
U.S. President Joe Biden on Thursday signed a decree banning Washington from investing in 60 Chinese companies that the White House says are undermining U.S. security. “This executive order allows the United States to ban investments in Chinese companies that undermine the security or democratic values of the United States and our allies,” the document […]Next
The founder of Tesla and SpaceX, Elon Musk, became the highest paid CEO in the United States last year, according to Forbes magazine. The publication reminds that in 2018 Musk gave up his salary at Tesla. Instead, he receives a reward in the form of options on the company’s shares. In 2020, the businessman received […]Next
Starbucks reported its biggest profit of all time in the UK, and it can serve as a long-term completion of a tax dispute with the British government. After the company was involved in a major tax scandal in 2012, when it was accused of tax evasion, Starbucks paid UK a large sum of income tax […]Next
The State Property Fund sold the Radyvyliv Bakery in Rivne Oblast at an auction on Monday, August 30, for 147 million hryvnias. This is evidenced by data from the Prozorro system. Two companies took part in the auction, the winner was a small private enterprise Horizont, owned by the deputy of the district council Ivan […]Next
The National Bank did not participate in trading on the interbank foreign exchange market this week, the regulator’s press service reports. In addition, the central bank did not go to the interbank market last week. Moreover, in the first two weeks of February, the NBU bought $ 200 million to curb the strengthening of the […]Next
The commercial court of Kiev had arrested UAH 380,712 million of Creative PJSC, which is one of the largest domestic producers of oil and fat products and part of the Creative industrial group as security in the case of VTB Bank. According to the report, in January 2016, VTB Bank appealed to the court to […]Next
Agricultural holding “Industrial Milk Company” (IMC) is planning to raise $ 20 million funding from the European Bank for Reconstruction and Development for appending of the floating capital. According to the bank’s website, the board of directors plans to consider the relevant draft at the meeting on April 20. The total cost of the project […]Next