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IBM acquires PSS Systems |
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IBM has acquired PSS Systems, a privately-held company tat helps organizations with their information governance policies. Financial terms of the deal were not disclosed.  PSS Systems' software helps organizations analyze, automate and implement information governance policies across massive amounts of electronic business information and dispose of that information in an automated way. IBM said these capabilities are critical elements to remaining responsive to legal obligations while reducing data storage costs that could be specially important to Chief Legal Officers and CIOs. IBM said a study by the Compliance, Governance and Oversight Council (founded by PSS) revealed that fewer than 25 percent of organizations being able to dispose of data properly as they lacked rigorous legal hold management practices and effective record retention programs. The company said the report pegs the estimates of costs associated with legal electronic discovery average more than $3 million per case, while 70 percent of information is often needlessly retained. IBM said that combining PSS Systems' software with its own Information Lifecycle Governance software would help it deliver offerings that address the need to manage, automate, and apply policies to address the interlocking needs of the CLO, CIO and lines-of-business constituents. IBM plans to integrate PSS Systems within the IBM Software Group. |
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