IBM acquires Varicent Software to boost analytics portfolio

Summary:IBM acquires Varicent Software, boosting IBM's analytics resources and capabilities for finance, sales, and customer service operations.

IBM has numerous initiatives and solutions dedicated to big data, and the global tech corporation is only reaffirming those commitments with the acquisition of Varicent Software.

Toronto-based Varicent provides analytics software for compensation and sales performance management, automating and integrating sales, client and financial performance management across an enterprise.

Most of Varicent's customers are in the financial, retail, telecommunications, and IT industries. Specific customers include Hertz, Office Depot and Starwood Hotels.

Les Rechan, general manager of business analytics at IBM, explained in a statement that the addition of Varicent is intended to boost IBM's analytics portfolio.

The acquisition of Varicent advances IBM's efforts to drive analytics capabilities into the hands of front line employees to transform business operations and ultimately improve the bottom line. For the thousands of sales organizations still relying on silos of data, spreadsheets and e-mail to manage sales, there is an enormous opportunity to apply analytics to this vital area of business and uncover new, untapped growth opportunities.

Specifically, IBM is planning to merge Varicent with its research and development groups as well as with prior acquisitions such as OpenPages and Cognos to broaden IBM's analytics solutions for finance, sales, and customer service operations.

After the deal has closed, which is expected to happen by the end of the second quarter of 2012, all of Varicent's employees will join IBM's Software Group. Financial terms of the agreement have not been disclosed.

Related:

Topics: Enterprise Software, Banking, CXO, Data Centers, IBM, Software

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

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