IBM gobbles up Promontory
Seeking yet another market to wedge its Watson analytics system into, IBM has acquired compliance specialist Promontory Financial Group.
Big Blue says it will be integrating Watson with Promontory's risk management and compliance consulting services in hopes of creating a system that can proactively seek out and alert businesses to possible legal risks from data not secured or managed in accordance with regulations.
"Combining Promontory's expertise with IBM's extraordinary technological capabilities, such as Watson, will permit us to directly address our clients' greatest challenges in innovative and powerful ways," Promontory CEO Eugene Ludwig said of the deal.
"It will enhance our mutual commitment to risk management and regulatory compliance excellence, and our results will benefit customers and the overall financial system."
The deal is expected to close later this calendar year. ®