IBM Acquires Hakkoda Inc., Expanding Data Expertise to Fuel Clients' AI Transformations
ARMONK, N.Y., April 7, 2025 /CNW/ -- IBM (NYSE: IBM) today announced it has acquired Hakkoda Inc., a leading global data and AI consultancy. Hakkoda will expand IBM Consulting's data transformation services portfolio, adding specialized data platform expertise to help clients get their data ready to fuel AI-powered business operations.
Hakkoda has leading capabilities in migrating, modernizing, and monetizing data estates and is an award-winning Snowflake partner. This acquisition amplifies IBM's ability to meet the rapidly growing demand for data services and help clients build integrated enterprise data estates that are optimized for speed, cost and efficiency across multiple business use cases.
Hakkoda also brings a strong portfolio of generative AI powered assets that can speed up data modernization projects. Their industry solutions complement and build on their consultants' deep expertise in industries like financial services, public sector, and healthcare and life sciences. Hakkoda will further expand IBM's ability to bring both consulting expertise and AI to clients using its AI-powered delivery platform, IBM Consulting Advantage.
"IBM is at the leading edge of the consulting industry with how we're supercharging our consultants with AI," said Mohamad Ali, Senior Vice President and Head of IBM Consulting. "With Hakkoda's data expertise, deep technology partnerships and asset-centric delivery model, IBM will be even better positioned to deliver value faster to clients as they transform with AI."
"From the beginning, Hakkoda has committed to being 'in the arena', not observing the greatest transformation in history but shaping it," said Erik Duffield, CEO and Co-founder of Hakkoda. "It is because of this that we are excited to join IBM at this critical moment when organizations are looking for a trusted partner to help them modernize their data for the AI era. IBM's heritage of innovation, their commitment to discovery and deep partnerships with clients on their most technical challenges is a perfect pairing to take Hakkoda's industry focused modern data consulting to the global marketplace."
Estimated global spending for enterprise intelligence services initiatives stands at $169 billion and, with a five-year CAGR of about 13 percent, is expected to grow to more than $243 billion by 2028, according to IDC1. To extract value from their data, business leaders need a thoughtful data migration strategy and a modern, multi-use case data platform on the cloud.
As an Elite Snowflake partner, Hakkoda brings hundreds of SnowPro core and advanced certifications. They were named the 2024 Snowflake Healthcare & Life Sciences Services Partner of the Year and 2023 Snowflake Americas System Integrator Innovation Partner of the Year. Hakkoda is also an advanced-tier partner of AWS.
Hakkoda is headquartered in New York and brings hundreds of experts across the United States, Latin America, India, Europe, and the United Kingdom to IBM Consulting. For more information on Hakkoda, visit https://hakkoda.io/.
The acquisition closed on April 2, 2025, and financial details of the transaction were not disclosed.
About IBMIBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.
Media ContactMichelle MattelsonIBM External Relationsmorrison@us.ibm.com
1 IDC Worldwide Enterprise Intelligence Services Forecast, 2024–2028, doc # US51423624, July 2024
View original content to download multimedia:https://www.prnewswire.com/news-releases/ibm-acquires-hakkoda-inc-expanding-data-expertise-to-fuel-clients-ai-transformations-302421546.html
SOURCE IBM
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2025/07/c5674.html
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
35 minutes ago
- Yahoo
Graham Corporation (GHM) Reports Q1: Everything You Need To Know Ahead Of Earnings
Industrial fluid and energy systems manufacturer Graham Corporation (NYSE: GHM) will be reporting results tomorrow before market open. Here's what to look for. Graham Corporation missed analysts' revenue expectations by 5% last quarter, reporting revenues of $47.04 million, up 7.3% year on year. It was a mixed quarter for the company, with a solid beat of analysts' EPS estimates but full-year revenue guidance slightly missing analysts' expectations. Is Graham Corporation a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Graham Corporation's revenue to grow 13.4% year on year to $55.67 million, in line with the 14% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.19 per share. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Graham Corporation has missed Wall Street's revenue estimates twice over the last two years. Looking at Graham Corporation's peers in the engineered components and systems segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Regal Rexnord's revenues decreased 8.4% year on year, beating analysts' expectations by 3%, and Arrow Electronics reported a revenue decline of 1.6%, topping estimates by 7.2%. Regal Rexnord traded up 13.6% following the results while Arrow Electronics was also up 3.6%. Read our full analysis of Regal Rexnord's results here and Arrow Electronics's results here. Investors in the engineered components and systems segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. Graham Corporation is up 16.5% during the same time and is heading into earnings with an average analyst price target of $52.67 (compared to the current share price of $42). Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
Yahoo
an hour ago
- Yahoo
Meta Looks to Expand AI Development by Investing in Scale AI
This story was originally published on Social Media Today. To receive daily news and insights, subscribe to our free daily Social Media Today newsletter. Meta's reportedly looking to expand its AI infrastructure even further, by investing in AI startup Scale AI, which specializes in data labeling to facilitate AI model expansion. According to Bloomberg, Meta is in advanced talks to potentially invest up to $10 billion into the company, which Meta already works with as part of its expanded AI development. Originally founded in 2016, Scale AI has become a key provider of qualified data, which can help to improve AI system training significantly. Scale AI ensures that data sources are accurately labeled and annotated, essentially making sense of data input streams in order to improve the training process. According to research, this can significantly reduce AI training time, by feeding more valuable data sources to AI companies, reducing manual load on their part. And as noted, Scale AI already works with several major AI projects, including OpenAI and Meta, to assist in their current AI training process. Meta previously invested $1 billion in Scale's Series F funding round. An expanded partnership could give Zuck and Co. a significant advantage, by ensuring that it has exclusive access to Scale's evolving data classification tools, which could help to improve Meta's AI models significantly. This comes as Meta is also working to grow its data processing capacity, with the development of a 2 gigawatt data center, among various major infrastructure elements. Meta's also currently holds around 350,000 Nvidia H100 chips, which power its AI projects (both OpenAI and xAI have around 300k H100s), while it's also developing its own hardware for expanded AI development. Essentially, Meta's pushing hard to become the leader in the global AI race. And with expanded investment in key infrastructure tools like Scale AI, it's well on the way to leading the market on potential AI development. That could have major implications for Facebook, Instagram, and Meta's broader AI tools, including in VR environments and in wearables, moving forward.
Yahoo
an hour ago
- Yahoo
Millennial reveals huge money reality facing nearly one million Aussies: 'Better way to do it'
A millennial has raised an alarm, especially for young workers, about the best way to save money. The 29-year-old Sydney resident said many Aussies think about savings the "wrong way". While millions have cut down or changed their spending habits to have more money left over, the AI worker said you should instead find more ways to make money. He believed that was the only true way to get ahead in this cost-of-living crisis. "I think that's probably the better way to do it," he told loan app Coposit in an impromptu street interview. "As opposed to maximising how much you can save, you should maximise how much you can earn." Side hustle shock as 'broke' Gen Z student earns $1,000 in a week Major Coles move to take on Chemist Warehouse, Bunnings, Amazon Centrelink payment change happening this week: 'Will increase' He added it's worth learning how to use AI to see if you could find more time in your day for a side hustle or other gig. "I think [AI] will change everybody's way of living and how they're doing things," he said. "If you're not doing it, like just trying to get good at AI, I think you're going to fall dangerously behind."Aussies have been able to pull in hundreds or thousands of dollars every week from side gigs when they're not at their main job. This could be recycling cans, refurbishing and reselling furniture, content creation, working in hospitality or retail, or affiliate marketing — the sky's the limit. NAB research from earlier this year found video editing, freelance writing, and gardening were the three most in-demand side hustles in 2025, with some paying up to $50 per hour. Aussie dad Frank Hoyt told Yahoo Finance he could earn roughly $4,000 extra per month painting and plastering homes. 'In general, the extra money is just good to be comfortable,' he said. Some have even been able to take on multiple full-time jobs on top of their main gig. One of these over-employed people told Yahoo Finance he's "easily hundreds of thousands ahead" thanks to having three full-time jobs at once. Indeed discovered 93 per cent of white-collar over-employed workers do their other full-time gig on their primary employer's time, with 65 per cent doing it regularly. Nine in 10 respondents said AI has been the game-changing factor in this trend. "The use of AI to manage multiple jobs highlights how technology is reshaping the workforce," Indeed's Sally McKibbin said. "However, the toll on workers' mental and physical health cannot be ignored. "Balancing two full-time jobs — regardless of technology efficiencies — is pushing many to their limits." The cost-of-living crisis has pushed many to their financial brink, and choosing to shop at a cheaper supermarket or cut down on fuel costs just won't cut it for many households these days. 'If you've got a mortgage, those repayments have increased quite a bit over the last couple of years so I suspect people have sought a second job just to reach the higher cost of living recently," SEEK senior economist Blair Chapman said. He revealed some are being driven to multiple jobs because their hours, and as a result their pay, is being cut at their main gig. A decent chunk of those with multiple jobs are aged between 20 to 24, with women more likely than men to have an additional gig. 'We are seeing more people being employed in industries where we tend to see a lot of multiple job holdings,' Chapman said. 'For example, we've seen healthcare and social assistance grow and that is one of the industries where multiple job holdings are most common. 'That comes down to the nature of the work, where you have shift work and one business may not be able to provide all the hours an employee wants so the individual has to work across multiple sites to get the hours they are desiring.'Sign in to access your portfolio
