IBM to Acquire Meteorix for Customers to Deploy Finance and HR Operations in the Cloud

By CIOReview | Wednesday, October 28, 2015
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FREMONT, CA: IBM, a provider of Information and Technology services, plans to acquire Meteorix,a services partner of cloud-based finance and human resources company Workday,to help companies transform traditional finance and HR services.

Cloud technology has become essential for both HR and finance services in large and small companies. As a result, demand for HR and finance related software has increased, creating huge market to its providers, reports Cloud Tweaks. Combined expertise of IBM and Meteorix will allow customers to put their finance and HR operations in the cloud and transform their businesses for future growth, states Aneel Bhusri, CEO, Workday.

By combining Meteorix’s experience as Workday’s service partner with business analytics and cognitive computing capabilitiesof IBM, both the companies aims to unlock next-generation employee engagement and productivity to accelerate financial performance. Although the terms and conditions of the deal has not been released.

The acquisition is a part of IBM's already significant investments and research in cloud computing and workforce science that will help its clients to apply behavioral science and capabilities in advanced analytics, technology integration and psychological principles for better business performance. For Workday, IBM's purchase of Meteorix is a vote of confidence for its cloud-based enterprise services, reports Investopedia. Instead of trying to compete with Workday and other SaaS companies in the field, IBM strategizes to work with them and be a part of their success.

“We owe Meteorix’s rapid growth and success to the dedication and customer focus of our team as well as our strong commitment to Workday. Once part of IBM, we’ll strengthen our unwavering commitment to customer success while adding global scale, deepening industry and business transformation expertise and tapping IBM innovation. The combined expertise of IBM and Meteorix will enable clients to rapidly implement and maximize the value of Workday while transforming their finance and HR capabilities for the future. That’s a win for everyone,” says Sam Spector, CEO, Meteorix.