IBM to acquire business analytics firm OpenPages

IBM today announced it would acquire the private business analytics company OpenPages, with financial terms of the deal being kept confidential.

OpenPages currently has about 200 clients, and provides them with complex governance risk and compliance software to allow those firms to identify and manage enterprise-wide risks across functional areas, including operations, in one system.

The software lets firms create a strategy with specified goals around many functional areas, including around finance and receivables, cash flow, and sales (even segregated in geographical areas, including other segments), among other functions.

 The OpenPages proprietary software aggregates all risk exposures, providing a better picture of how the organization could be affected if certain events occur, and highlights inconsistencies in strategy, risk, and performance.

Executives could subsequently open hedging positions to better manage risk exposure and to more readily identify opportunities to capitalize on to increase value.

Existing firms that use OpenPages include Barclays, among other firms across different industries.

OpenPages investors include the New York City based investment bank Goldman Sachs, among other venture capital firms

IBM says risk management is now more of a priority than ever for firms.

The IBM stock (NYSE:IBM) is up about $1 per share, about 1-percent up, to about $130 per share in mid-day trading.