ARMONK (dpa-AFX) - International Business Machines Corp. (IBM), Wednesday announced its decision to acquire Cognitus, a leading SAP S/4HANA services provider, to help the company with digital transformation, driving increased productivity and operational efficiency for clients.
The financial details of the deal were not disclosed.
The acquisition of Cognitus would strengthen IBM's industry expertise, portfolio of AI solutions, and capabilities in RISE and GROW with SAP, bolstering its ability to deliver modern SAP solutions faster and more effectively for global clients.
Neil Dhar, Managing Partner, IBM Consulting Americas, commented, 'Cognitus brings deep industry expertise and proprietary AI technology that improves the efficiency of SAP implementations and will extend the functionality of tools across our SAP portfolio.'
In the pre-market hours, IBM is trading at $278.06, up 0.68 percent on the New York Stock Exchange.
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