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New York Markets After Hours

July 8, 2020, 8:13 a.m. EDT

IBM to buy Brazil's WDG Automation to boost AI-infused capabilities

International Business Machines Corp. (NYS:IBM) announced Wednesday a deal to buy Brazil-based provider of robotic process automation software WDG Soluções Em Sistemas E Automação De Processos LTDA, referred to as WDG Automation, for an undisclosed sum. The acquisition is part of IBM's aim to advance its artificial intelligence-infused automation capabilities, which IBM believes is now more essential given uncertainties created by the COVID-19 pandemic. "IBM already automates how companies apply AI to business processes and IT operations so they can detect opportunities and problems and recommend next steps and solutions," said Denis Kennelly, general manager of cloud integration as IBM's cloud and cognitive software unit. "With today's announcement, IBM is taking that a step further and helping clients accelerate automation to more parts of the organization, not just to routine, but more complex tasks so employees can focus on higher value work." IBM's stock, which rose 0.2% in premarket trading, has slipped 1.4% over the past three months, while the Dow Jones Industrial Average (DOW:DJIA) has gained 10.5%.

Link to MarketWatch's Slice.