IBM to Acquire OpenPages

The move is meant to boost IBM's business analytics offerings, the company said.

Armonk, N.Y.-based IBM will acquire Waltham, Mass.-based OpenPages, a provider of risk management software.

The acquisition of OpenPages expands IBM's business analytics capabilities to support compliance and risk management processes, the company says in a statement.

"Unforeseen risk can hurt a company's bottom line as well as its brand reputation," Rob Ashe, GM of business analytics for IBM, says in a statement. "Integrating risk management systems across once-divided units and functions is essential to seeing the bigger picture. The combination of IBM and OpenPages will provide a holistic and consistent approach to risk management helping companies combine that insight with performance management to drive better decision making."

More than 200 clients use OpenPages software, including Allianz, Barclays, Carnival Corporation, Duke Energy, SunTrust, TIAA CREF and Williams.

IBM acquired Datacap earlier this year.

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio