Melbourne's SXiQ snapped up by IBM

Melbourne-based digital transformation services company SXiQ has been acquired by IBM for an undisclosed figure.

SXiQ works with Australian companies and those with an Australian presence to migrate and modernise their cloud infrastructure. The company has served customers in sectors including financial services, consumer products, energy, health care and the public sector.

IBM has revealed plans to integrate the company into its IBM Consulting division to enhance the division’s capabilities in Australia and New Zealand. SXiQ Managing Director John Hanna will meanwhile join IBM’s A/NZ team.

IBM Australia and New Zealand GM Katrina Troughton said the company is constantly seeking to design and discover industry-leading technology and talent that best serves the needs of its clients.

“This includes Australian innovation and expertise. We are thrilled to welcome John and the SXiQ team to IBM, expanding IBM Consulting’s hybrid and multicloud capabilities.

“The SXiQ acquisition is one of the first since the recent ‘spin off’ of the Kyndryl business and clearly demonstrates the focus of today’s IBM — bringing the value of open hybrid cloud and AI to our clients globally.”

The deal marks the 20th acquisition — and the tenth consulting-related acquisition — since Arvind Krishna took over as IBM’s CEO in April 2020.