IBM has acquired Armanta, a New Jersey-based provider of aggregation and analytics software to financial services firms, for an undisclosed sum.

Armanta’s platform enables financial organisation to aggregate data across multiple systems in real-time speed, helping them improve their management decision-making and comply with regulatory requirements and other market drivers.

The two companies have worked together over the past two years which allowed IBM to deliver financial risk solutions that have already been adopted in the global market.

“Armanta technology has not only enhanced our existing solutions but also allowed IBM to rapidly develop new offerings for clients,” IBM said in a blog post.

“With this acquisition, IBM will help clients further integrate their risk management practices with other front or back office functions, while also establishing a common set of data, analytics and reports for business-wide consistency,” the post added.

Following the acquisition, Armanta will operate as a part of IBM’s Watson Financial Services division.