After finishing 2024 with record revenue growth, IBM has made a new acquisition to further strengthen its position in artificial intelligence and automation technologies. The company has acquired Hakkoda, a New York-based artificial intelligence and data consulting firm. While the financial details of the deal have not been disclosed, IBM plans to expand its offerings in this field by leveraging Hakkoda's expertise.
Hakkoda was founded in 2021 by Erik Duffield, a former Deloitte executive, and the company offers various solutions in data modernization, cloud migration, and data culture development. Hakkoda also helps clients transition their data to the Snowflake data cloud and migrate from legacy systems to modern infrastructures.
Hakkoda provides services in data engineering, data architecture, machine learning, and application development, primarily serving sectors like healthcare and finance. The company also operates in several countries, including the United Kingdom, Argentina, India, Costa Rica, Portugal, and Canada.
With its record revenue growth in the fourth quarter of 2024 and over $5 billion in revenue, IBM has solidified its strength in the artificial intelligence sector. The acquisition of Hakkoda will allow IBM to gain new customer bases and further enrich its offerings.
Erik Duffield, the founder of Hakkoda, stated that collaborating with IBM will enable them to participate more closely in the industry's major transformations, and that IBM's innovative approach perfectly aligns with their vision for sectoral data consulting. Following the acquisition, Hakkoda’s consultants from various countries will be transferred to relevant divisions within IBM.
