IBM to buy Cognitus to strengthen SAP capabilities

[IBM headquarters located in SOMA district, San Francisco]
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* IBM (NYSE:IBM [https://seekingalpha.com/symbol/IBM]) has signed a definitive agreement to acquire Cognitus, a Dallas, Texas-based SAP S/4HANA services provider, with industry-specific, AI-powered solutions.
* Financial details of the transaction were not disclosed.
* Cognitus will further strengthen IBM's (NYSE:IBM [https://seekingalpha.com/symbol/IBM]) SAP capabilities in complex and regulated industries, including aerospace and defense, energy and utilities and manufacturing. The business will bring mission-critical SAP skills, including in RISE and GROW with SAP, as well as an extensive portfolio of software assets.
* Source: Press Release [https://seekingalpha.com/pr/20266605-ibm-to-acquire-cognitus-to-accelerate-sap-transformations-globally]

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