IBM Acquires PSS Systems
IBM today announced that it has acquired PSS Systems, a privately held company based in Mountain View, Calif.
Financial terms of the deal were not disclosed.
PSS Systems’ software helps organizations analyze, automate and implement information governance policies across massive amounts of electronic business information and dispose of that information in an automated way. These capabilities are critical elements to remaining responsive to legal obligations while reducing data storage costs.
As information continues to grow at exponential rates, companies across a wide range of industries are looking for ways to reduce the costs of collecting, processing, reviewing and storing information by setting information disposal policies that can meet legal requirements.
To improve the management of data and these increasing legal obligations, Chief Legal Officers and CIOs are investing in software to automate and implement routine enforcement of information governance and retention policies. Needlessly retaining information increases business risk, impedes the ability to respond to legal requests, and puts costs restraints on organizations in every industry.
Finding Information Faster
A recent study by the Compliance, Governance and Oversight Council found that fewer than 25 percent of organizations were able to dispose of data properly because they lacked rigorous legal hold management practices and effective record retention programs. The report also estimates that that costs associated with legal electronic discovery average more than $3 million per case and about 70 percent of information is often needlessly retained.
By combining PSS Systems’ software with IBM’s complementary Information Lifecycle Governance software, IBM is uniquely positioned to deliver a comprehensive portfolio of offerings that address client’s needs to manage, automate, and apply policies to address the interlocking needs of the CLO, CIO and lines-of-business constituents.
PSS Systems has an established base of clients, including seven of the top 10 Fortune 500 companies, across a wide variety of industries worldwide including financial services, pharmaceutical, petro-chemical, healthcare and energy. Companies such as Abbott, BASF, BP, ConocoPhillips, Devon Energy, First Data, GE, Pfizer and Williams use PSS Systems software solutions.
PSS Systems founded the Compliance, Governance and Oversight Council (CGOC), a corporate practitioner’s forum with more than 800 members. They also developed the industry leading Information Governance Process Maturity Model which includes process assessment and business case methodologies, best practice tools and delivery models for legal and IT professional.
With this acquisition, IBM expands its suite of Information Lifecycle Governance solutions, which include content assessment, collection, archiving, imaging, advanced classification, records management, e-discovery search and analytics as well as IBM’s storage management and Smart Archive strategy.
IBM intends to integrate PSS Systems within the IBM ‘s Software Group. You can learn more here.