IBM has acquired a Chicago cloud analytics and finance company that offers consulting services to SAP industries.
IBM announced Monday that it acquired TruQua Enterprises for an undisclosed price. Founded in 2010, TruQua provides SAP solutions to Fortune 500 companies. The deal will allow IBM to help businesses modernize their financial processes and broaden the company's consulting expertise and capabilities to help companies implement SAP solutions, according to a news release.
TruQua's customers include companies like PepsiCo, Under Armour and Dell EMC.
TruQua is the third acquisition IBM has made this year. It also acquired Santa Clara, Calif.-based Spanugo and Brazil-based WDG Automation.
This isn't the first time IBM has turned to Chicago to acquire a high-tech cloud business. In 2015 IBM bought Cleversafe, a data storage startup led by serial entrepreneur Chris Gladwin. IBM paid $1.3 billion for Cleversafe in what was one of the largest-ever Chicago tech acquisitions. The deal minted 80 millionaires based on the equity structure Cleversafe gave its employees.
IBM's TruQua deal is expected to close in the fourth quarter of this year. TruQua was co-founded by Scott Cairncross and David Dixon, and the company has around 80 employees, according to LinkedIn.
"We are incredibly excited to join the IBM family," Cairncross said in a statement. "TruQua's 'Smart, Driven and Nice' consultants will be able to quickly add to IBM's already strong capabilities in the finance and analytics space."
