IBM has agreed to acquire the data management company Princeton Softech.The privately held company provides data archiving, test data management, data privacy, and classification and discovery software to more than 2,200 businesses worldwide.
The New Jersey-based firm, which has 240 employees, will be integrated into IBM’s Software Group as part of its Information Management Software division. IBM hopes the deal will expand the computer giant’s enterprise data governance capabilities.
“Organisations of all sizes worldwide face the challenge of effectively managing their surging data volumes, particularly given growing governance and compliance requirements,” said Ambuj Goyal, general manager for IBM Information Management. “A single solution will allow our customers to more effectively manage risk and keep up with regulatory and enterprise data governance requirements.”
The acquisition is subject to regulatory approvals and is expected to close later this year.
Financial details of the deal were not disclosed.