IBM announced plans to acquire OpenPages, a Massachusetts-based developer of corporate risk management and compliance software. According to IBM, playing a role in the acquisition plans is a recent company study of 1900 global CFOs and senior finance leaders that revealed that risk management has risen in priority by 93% since 2005.
OpenPages's software is used by more than 200 clients to develop comprehensive compliance and risk management programs, including Allianz, Barclays, Carnival Corporation, Duke Energy, SunTrust, TIAA CREF, and Williams. IBM plans to integrate the company into its software group. Financial terms of the agreement were not disclosed.