IBM (IBM.US) will acquire Applications Software Technology, a provider of solutions from Oracle Corporation.

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