International Business Machines Corporation ( IBM ) disclosed on Monday that it had acquired Hakkoda Inc. for an undisclosed amount.

This move enhances IBM Consulting's data transformation services by adding Hakkoda's expertise in data platforms, supporting clients in preparing their data for AI-driven business operations.

The acquisition is expected to strengthen IBM's ( IBM ) capacity to meet the rising demand for data services, enabling clients to build integrated, high-performance data estates optimized for speed, cost, and efficiency across diverse business needs.

Organizations “are looking for a trusted partner to help them modernize their data for the AI era,” Erik Duffield, CEO and co-founder of Hakkoda said.

”IBM’s heritage of innovation, their commitment to discovery and deep partnerships with clients on their most technical challenges is a perfect pairing to take Hakkoda’s industry focused modern data consulting to the global marketplace.”

Last week, IBM broadened its cloud offerings in Canada and unveiled new innovations tailored to help organizations expand their artificial intelligence capabilities and adhere to regulatory standards.

Investors can gain exposure to the stock via First Trust NASDAQ Technology Dividend Index Fund ( TDIV ) .

Price Action: IBM ( IBM ) shares are down 3.57% at $219.36 premarket at the last check Monday.

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