IBM (IBM.US) will acquire Applications Software Technology, an Oracle solutions provider, to enhance its offerings and expand its market reach.

IBM (IBM.US) announced on Thursday that it is acquiring Applications Software Technology, a global consulting firm that provides Oracle (ORCL.US) cloud application suite solutions. Financial details of the transaction were not disclosed. IBM Consulting Americas Senior Vice President Kelly Chambliss said, "The acquisition of Applications Software Technology will enhance IBM's public sector and Oracle cloud application skills, helping clients confidently navigate business transformation." IBM said Applications Software Technology also serves business clients in manufacturing, energy, and packaged consumer goods sectors, in addition to its strong presence in the public sector. The acquisition is expected to be completed in the first quarter of 2025, subject to customary closing conditions and regulatory approvals.