On Thursday, IBM announced that it had acquired the data observability software Databand.ai. The software helps enterprises fix data issues such as errors, pipeline failures, and poor quality.
The acquisition deal was closed on June 27, 2022. However, the company did not disclose the financial details. Databand.ai, headquartered in Tel Aviv, Israel, is IBM’s fifth acquisition in the year 2022. Since April 2020, IBM has acquired more than 25 companies.
IBM believes that data observability is rapidly becoming an important solution for helping companies better understand the health of the data available in their systems and troubleshoot and resolve issues in real-time.
A survey by Gartner found that every year, poor data quality costs firms an average of USD 12.9 million. IBM’s acquisition of Databand.ai builds on the company’s R&D investment as well as in AI and automation technology.