IBM Acquires Dublin-based Cúram Software to Boost Smarter Cities
In a press release on Monday, IBM (NYSE:IBM) announced that it has signed a definitive agreement to acquire Cúram Software Ltd., a Dublin-based provider of software, to help government agencies administer social welfare and health services. The acquisition is a part of IBM’s Smarter Cities initiative and will be integrated into IBM’s Software Group. [1] We currently have a $187 Trefis price estimate for IBM.
About Cúram Software
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Cúram Software allows cities and governments a single view of benefits and services available across agencies, levels of government, private and not-for-profit organizations helping them focus on lowering overall program costs by ensuring that the benefits and services provided address core issues. It is used by health and human services, workforce services and social security organizations around the world to deliver welfare, social insurance and both individual and employer based social programs.
IBM’s Smarter Cities Offers Huge Potential
IBM’s Smarter Cities initiative helps cities and governments serve citizens better by adopting more intelligent and efficient ways to analyze data, anticipate problems and coordinate resources. This is a huge opportunity for IBM as research firm IDC estimates the new Smarter Cities information technology marke at $34 billion in 2011 and that it will grow more than 18 percent per year to $57 billion by 2014. The Cúram Software acquisition will help IBM extend its leadership in this area.
Before this acquisition, IBM has made a number of announcements this year enhancing or adding to its Smarter Cities offerings for cities and governments. In June, IBM introduced the IBM Intelligent Operations Center, which provides a unified view of all city agencies so officials can predict events and quickly respond. (See Big Blue Promotes ‘Smarter Cities’ Packages to Attract Cities as Customers) Later in October, IBM completed acquisition of i2, a leading provider of intelligence analytics for crime and fraud prevention. (See IBM Sees Big Market in Making Cities Safer with i2 Acquisition)
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