IBM has announced its acquisition of New York-based data and AI consultancy Hakkoda, continuing its aggressive strategy to strengthen AI-driven consulting services. The move supports IBM’s goal to provide faster, value-driven AI transformation for clients in sectors such as financial services, healthcare, life sciences, and the public sector.
Strengthening IBM’s AI Consulting Strategy
The acquisition adds to IBM’s growing investment in data and AI services. Mohamad Ali, IBM’s Senior Vice President and head of its consulting arm, said in a statement that Hakkoda’s expertise will enhance IBM’s ability to deliver AI solutions that drive real results.
“By combining Hakkoda’s deep data skills, strong tech partnerships, and delivery model, we’re positioned to help clients unlock faster value with AI,” Ali noted.
Financial Details Not Disclosed
IBM did not share the purchase price. However, the deal is part of a broader push to scale its AI and automation offerings. Earlier this year, IBM acquired DataStax, a platform for building generative AI applications, and recently closed the deal to buy HashiCorp, a leader in infrastructure and security automation.
These moves are already showing returns. In Q4 2024, IBM posted its highest revenue growth in five years, powered by AI consulting. The company reported AI-related bookings and sales surpassing $5 billion to date, pushing its stock up by 10%.
About Hakkoda: From Startup to Strategic Asset
Founded in 2021 by former Deloitte executive Erik Duffield, Hakkoda specializes in cloud data migration and modernization, particularly around Snowflake’s data cloud ecosystem. The startup has developed tools to help enterprises shift data from legacy systems and modernize operations with cloud-native technologies.
Hakkoda raised $5.6 million in venture capital before the acquisition, with backing from firms like Tercera, Lead Edge Capital, and Casimir Holdings.
Global Consulting Talent Joins IBM
The acquisition brings Hakkoda’s international network of consultants—spanning the U.S., Europe, Latin America, India, and the U.K.—under IBM’s consulting division. Duffield said the partnership will amplify Hakkoda’s mission to shape the future of data transformation through AI.
“We’ve always aimed to lead from within the arena, not watch from the sidelines,” Duffield said. “Joining IBM—an innovation leader with deep technical client relationships—will bring our modern, industry-focused consulting model to a truly global scale.”
