COMPUTING giant IBM has acquired specialist Irish technology firm, Cúram Software for an undisclosed sum, estimated to be in excess of €100 million.
Cúram — which has been trading for 12 years and provides software solutions for urban councils, government agencies and non-profit organisations — is expected to generate revenues of nearly €100 million this year and employs 700 people worldwide.
IBM — which already employs more than 3,000 people across eight facilities in Ireland — hailed the transaction as “substantial news” for both companies. The New York-based company will retain the Cúram brand (and the company’s staff) and use the company’s intelligence to enhance its existing “Smarter Cities” initiative, which helps cities and governments to better serve citizens by adopting more intelligent and efficient ways to analyse data, anticipate problems and co-ordinate resources.
Enterprise Ireland has been a significant investor in Cúram since its inception in 1990. While a spokesperson for Enterprise Ireland declined to comment on how big a shareholding the agency had held in Cúram, they did say that the sale of the company would benefit the state.
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