IBM, a multinational computer technology and IT consulting corporation, has entered into an agreement to acquire the business of Singapore-headquartered RedPill Solutions.

Privately-held RedPill provides advanced customer analytics services to businesses in industries such as financial services, telecommunications, technology and hospitality, according to a company release here.

However, financial details of the deal were not disclosed by both partners.

Market experts believe that RedPill data models and expertise, developed through the successful execution of multiple analytic projects, would enhance IBM's current work to improve the speed and quality of clients' business decisions.

The deal, which is expected to close later this year, is subject to required statutory approvals and regulatory reviews and customary closing conditions.