IBM announced today that it has acquired OpenPages, which provides software to help companies isolate and manage enterprise risk elements. The price of the acquisition wasn’t disclosed.
OpenPages’ software highlights any inconsistencies in risk and performance goals — such as overly aggressive revenue goals for an emerging market like Latin America — and gives management a comprehensive view of the business opportunities and risks associated with the expansion.
OpenPages had previously partnered with IBM for the Operational Riskdata eXchange, a consortium of banks formed to collect loss-event data and meet operational risk guidelines outlined by standards set by an international banking committee.
The Waltham, Mass.-based company had previously raised an undisclosed amount of funding from Goldman Sachs, Matrix Partners and Sigma Partners among others. Allianz, Barclays, Carnival Corporation, Duke Energy and SunTrust are among OpenPages’ clients, according to the company’s website.
IBM has invested about $11 billion in analytics research and interpretation, which included hiring about 6,000 consultants and seven full-time analytics centers.