Computing giant IBM is buying U.K.-based i2 to accelerate its business analytics initiatives and help clients in the public and private sectors address crime, fraud and security threats.
i2, with U.S. headquarters in McLean, Va., has clients in multiple sectors, including banking, defense, healthcare, insurance, law enforcement, national security and retail. i2 solutions are used by 12 of the top 20 retail banks globally and eight of the top 10 largest companies in the world.
IBM says the acquisition will extend its ability to help clients harness data through the addition of i2’s intelligence analysis and tactical lead-generation capabilities, which help cities, nations, international bodies and private enterprises combat fraud and security threats. FBI statistics show consumer-facing fraud alone in the U.S. costs $100 billion per year.
In response to threats, businesses and government agencies are seeking to empower public safety officers, analysts, managers, detectives and investigators with industry-specific intelligence analysis and operational insight solutions. For example, government agencies today are concerned with increased threats to public safety, which are driving the need for secure information sharing.
“IBM’s goal is to better equip public safety officials and businesses with the information and tools they need to ensure safer cities," said Craig Hayman, general manager of Industry Solutions at IBM. “The combined capabilities of IBM and i2 will help customers uncover patterns and trends that will allow them to more effectively protect the privacy and safety of citizens, businesses and governments."
Using its real-time analytical solutions in combination with the technologies of i2, IBM says public agencies and private enterprises battling fraud will now have the capability to better collect, analyze and process all the relevant data at their disposal. In the past, data overload often led to critical information or opportunities being missed. Now local, state, and federal authorities can harness new intelligence to instantly detect and respond to security threats.
The IBM-i2 team-up gives clients access to a comprehensive range of visualization and multidimensional analytics for the timely delivery of intelligence, including threat and fraud analytics. The companies say these tools will help analysts quickly identify connections, patterns and trends in complex data sets and easily model data in the way they think, in a single environment yielding faster analysis results, strategic reports and bulletins.
i2 will be integrated into IBM's Software Group, which is a key driver of growth and profitability for the company. Financial terms were not disclosed.
