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IBM on Monday said it has acquired<\/a> Hakkoda<\/a>, a data and AI consultancy based in New York.<\/p>\n The acquisition would \u201cfurther expand\u201d IBM\u2019s ability to bring consultants and AI to clients, particularly customers in industries like financial services, public sector, and healthcare and life sciences, said Mohamad Ali, SVP and head of IBM\u2019s consulting business, in a statement. <\/p>\n \u201cWith Hakkoda\u2019s 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,\u201d Ali said.<\/p>\n Financial terms of the deal were not disclosed.<\/p>\n The deal comes as IBM continues to ramp up its investments in AI and automation technologies. In February, the company acquired DataStax<\/a>, a platform for building AI apps, and it recently finalized its purchase<\/a> of infrastructure and security automation firm HashiCorp.<\/p>\n The strategy has borne fruit for IBM. In Q4 2024, the company, which makes the bulk of its AI income from consulting, recorded its biggest revenue jump<\/a> in five years \u2014 sending its stock soaring 10%. IBM said at the time that AI bookings and sales stood at over $5 billion inception-to-date<\/a>.<\/p>\n Co-founded in 2021 by ex-Deloitte GM Erik Duffield, Hakkoda helps customers move data to the cloud \u2014 in particular, the Snowflake data cloud. The startup offers a range of tools to help firms migrate and transform data, as well as products to \u201cmodernize\u201d data from older systems.<\/p>\n