Author: Summer Myatt|| Date Published: December 7, 2022
IBM has agreed to acquire information technology modernization and digital transformation services provider, Octo, from Arlington Capital Partners in a deal advised by Baird.
The acquisition, which marks IBM’s eighth this year, is anticipated to augment the organization’s digital transformation capabilities in defense, health and civilian markets and complement its existing IT modernization services, IBM said Wednesday.
John Song, managing director of Baird and Wash100 Award winner, told Executive Mosaic that the transaction “demonstrates the increasing interest in the federal market from diversified commercial companies.”
As part of the transaction, Octo’s 1,500 employees will join IBM Consulting’s U.S.-based federal market organization, bringing the enterprise’s talent base to 4,200.
Octo CEO Mehul Sanghani expressed his excitement about the deal and said the acquisition will allow the combined enterprise to deliver digital transformation services with “greater reach and scale.”
The deal is expected to close in the fourth quarter of this year, pending customary closing conditions and regulatory clearances. Financial details of the acquisition were not disclosed.
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