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SOFTWARE INDUSTRY NEWS |
IBM to acquire BPM software company Lombardi |
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IBM has said it would acquire Austin, Texas based Lombardi, a privately held software company that provides Business Process Management (BPM) software and services. Financial terms of the agreement were not disclosed. The acquisition is subject to regulatory approvals and customary closing conditions. Once the acquisition is completed, Lombardi would be integrated into IBM. IBM said that Lombardi's department-level approach to delivering process management complements its own strengths in enterprise-wide process management software and adds a new and compelling dimension for customers looking for an end-to-end, integrated solution that automates human tasks and workflows. "Any discussion on business improvement inevitably leads to improving the processes that are at the heart of every company," said Craig Hayman, general manager, IBM Application and Integration Middleware. "Recognizing this, IBM has strengthened its presence and investments in business process and integration software to meet these growing client demands. Lombardi fills out our company's portfolio in this key area." "IBM has been a long-standing partner in addressing the core business needs of customers across a wide range of industries," said Rod Favaron, CEO, Lombardi. "Our shared vision has been to deliver technology that helps companies improve their effectiveness by better managing the processes that keep their businesses running. Becoming part of the IBM family will take this vision to a higher level and enable us to explore new opportunities together in product development, integration and go-to-market strategies." BPM software helps automate key processes to ensure consistency, predictability and cost efficiencies. Processes that support business functions like product planning, supply chain execution, insurance application and claims management, human resources, etc. are just some of the areas where BPM finds application. A study by IDC predicted the market opportunity for BPM software to increase at a compound annual growth rate (CAGR) of nearly 15 percent over the next four years, from $1.7 billion in 2009 to around $3 billion by 2013. |
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