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IBM Acquires Hakkoda Inc., Expanding Data Expertise to Fuel Clients' AI Transformations

1. IBM acquired Hakkoda, enhancing its data transformation services portfolio. 2. Hakkoda brings expertise in modernizing and monetizing data estates. 3. The acquisition addresses growing demand for enterprise intelligence services. 4. Hakkoda's generative AI assets will accelerate IBM Consulting's offerings. 5. Global spending on enterprise intelligence is projected to reach $243 billion by 2028.

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FAQ

Why Bullish?

IBM's acquisition positions it strongly in the rapidly expanding data and AI consultancy market. Historical acquisitions like Red Hat have successfully enhanced IBM's service portfolio and market position.

How important is it?

The acquisition directly strengthens IBM's consulting capabilities, enhancing its competitive stance in a high-growth sector.

Why Long Term?

The enterprise intelligence services market is expected to grow significantly, indicating a sustained demand for IBM's enhanced offerings.

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, /PRNewswire/ -- IBM (NYSE: IBM) today announced it has acquired Hakkoda Inc., a leading global data and AI consultancy. Hakkoda will expand IBM Consulting's data transformation services portfolio, adding specialized data platform expertise to help clients get their data ready to fuel AI-powered business operations. Hakkoda has leading capabilities in migrating, modernizing, and monetizing data estates and is an award-winning Snowflake partner. This acquisition amplifies IBM's ability to meet the rapidly growing demand for data services and help clients build integrated enterprise data estates that are optimized for speed, cost and efficiency across multiple business use cases. Hakkoda also brings a strong portfolio of generative AI powered assets that can speed up data modernization projects. Their industry solutions complement and build on their consultants' deep expertise in industries like financial services, public sector, and healthcare and life sciences. Hakkoda will further expand IBM's ability to bring both consulting expertise and AI to clients using its AI-powered delivery platform, IBM Consulting Advantage. "IBM is at the leading edge of the consulting industry with how we're supercharging our consultants with AI," said Mohamad Ali, Senior Vice President and Head of IBM Consulting. "With Hakkoda's data expertise, deep technology partnerships and asset-centric delivery model, IBM will be even better positioned to deliver value faster to clients as they transform with AI." "From the beginning, Hakkoda has committed to being 'in the arena', not observing the greatest transformation in history but shaping it," said Erik Duffield, CEO and Co-founder of Hakkoda. "It is because of this that we are excited to join IBM at this critical moment when organizations are looking for a trusted partner to help them modernize their data for the AI era. 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." Estimated global spending for enterprise intelligence services initiatives stands at $169 billion and, with a five-year CAGR of about 13 percent, is expected to grow to more than $243 billion by 2028, according to IDC1. To extract value from their data, business leaders need a thoughtful data migration strategy and a modern, multi-use case data platform on the cloud. As an Elite Snowflake partner, Hakkoda brings hundreds of SnowPro core and advanced certifications. They were named the 2024 Snowflake Healthcare & Life Sciences Services Partner of the Year and 2023 Snowflake Americas System Integrator Innovation Partner of the Year. Hakkoda is also an advanced-tier partner of AWS. Hakkoda is headquartered in New York and brings hundreds of experts across the United States, Latin America, India, Europe, and the United Kingdom to IBM Consulting. For more information on Hakkoda, visit https://hakkoda.io/. The acquisition closed on April 2, 2025, and financial details of the transaction were not disclosed. About IBMIBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information. Media ContactMichelle MattelsonIBM External Relations[email protected] 1 IDC Worldwide Enterprise Intelligence Services Forecast, 2024–2028, doc # US51423624, July 2024 SOURCE IBM WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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