As companies continue to integrate cloud computing and data analytics into their services, IBM Corp. (NYSE: IBM) looks to improve its capabilities by acquiring Explorys.
The Cleveland-based target, a portfolio company of Heritage Group, specializes in managing health care data — a key focus for many companies since the Affordable Care Act was put in place. Heritage invested in Explorys in 2012 with capital from a $167 million fund. Terms of the deal with IBM were not disclosed. Other Explory investors include Sante Ventures and Austin Ventures.