IBM Acquires Hakkoda Inc

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9 days ago

Summary

IBM acquires Hakkoda to expand its AI capabilities, aiming to deliver value faster to clients as they transform with AI. Financial terms were not disclosed.

Key Points

Hakkoda helps customers move data to the cloud, particularly Snowflake's data cloud.
The startup offers tools for migrating and transforming data, as well as products to modernize data from older systems.
IBM will integrate Hakkoda's hundreds of consultants across the globe into its consulting division.

Why It Matters

The acquisition demonstrates IBM's strategy to ramp up investments in AI and automation technologies, which has led to significant revenue growth.

Author

Kyle Wiggers

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