IBM announced on Monday it is going ahead with the proposed acquisition of Cúram Software Ltd.
According to the company, the acquisition will enhance IBM's existing capabilities in assisting city officials and governments to better serve citizens. For this, IBM plans to offer more efficient and intelligent means for analysing the requirements of managing citizens, and the execution of various social programs.
As of now, Curam Software caters to various health and human services along with a number of social security agencies, workforce services, and social insurance.
Cúram, means "care and protection" in Irish. The company was founded in 1990 and is currently headquartered at Dublin, Ireland. The acquisition, likely to broaden the role played by IBM's Ireland wing in the company's overall operational aspects, is said to be a part of the smarter city initiative.
The acquisition will see over 700 employees serving in Cúram shifting to IBM Software Group - one of the core units responsible for the company's overall profitability and growth.
"Insights estimates the new Smarter Cities information technology opportunity at $34 billion in 2011, increasing more than 18 percent per year to $57 billion by 2014," according to a report by Mariah Lawson of Vadvert.