IBM has announced that it plans to acquire StoredIQ, an e-discovery software vendor. This acquisition is part of a move to expand its position in the “information governance software” space. The financial terms of the deal were not disclosed.
StoredIQ, the privately held, Texas based firm is primarily involved with providing software solutions for the legal exchange of electronic information in civil cases (known as e-discovery). It helps its clients by assisting with indexing, storage, de-duplication and deletion of unstructured (unclassified) data. Its clients include companies in the “financial services, healthcare, government and manufacturing industries.”
StoredIQ is the latest in a number of acquisitions IBM has made in the information management space. IBM purchased e-discovery vendor PSS Systems in 2010 and enterprise search vendor Vivisimo in 2012. The press release for the transaction states that IBM hopes the acquisition will reduce “information risk by automating privacy, e-discovery, and regulatory policies.” Phil Myers, StoredIQ CEO has stated that prior to the transaction two firms were already “longstanding partners with existing integration,” with the press release continuing that the transaction should help with “aligning cost to the value of information.”
USA, Armonk, NY & USA, Austin, TX
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