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OpenPages, a Waltham-based provider of enterprise governance and compliance management software, is going to be acquired by IBM Corp. The buyout agreement calls for OpenPages to be integrated into IBM’s Business Analytics software portfolio.
The buyout is expected to help IBM support CFOs and CIOs in understanding their compliance and risk management strategy.
No financial terms of the acquisition were disclosed.
According to a news release today, the two companies have partnered in developing integrated risk management solutions for finance, banking and insurance industries, in addition to its partnership to create the data system associated with the Switzerland-based consortium of major banks in 18 countries, called the Operational Riskdata eXchange Association.
OpenPages is a privately held company that has received financial backing from Sigma Partners of Boston; Matrix Partners, which has an office in Waltham; Globespan Capital Partners of Boston; Boston’s North Hill Ventures; New York-based Goldman Sachs; and Mesirow Financial of Chicago.
IBM, based in Armonk, N.Y., just completed its acquisition of Marlborough-based data compression hardware and software firm Storwize Inc. last month.
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