IBM to acquire Octo, terms not disclosed

IBM announced an agreement to acquire Octo, a U.S.-based IT modernization and digital transformation services provider exclusively serving the U.S. federal government, including defense, health, and civilian agencies. IBM‘s acquisition of Octo establishes one of the largest digital transformation partners to the federal government. Upon the close of the acquisition, Octo’s approximately 1,500 employees will join IBM Consulting’s U.S. public and federal market organization. IBM’s acquisition of Octo from Arlington Capital Partners is expected to close in the fourth quarter of this year and is subject to customary closing conditions and regulatory clearances. Financial details of the deal were not disclosed.