IBM Acquires Varicent Software
Adding to its already considerable line of analysis software and expertise, IBM announced Friday that it has acquired business intelligence software provider Varicent Software.
Terms of the deal were not disclosed. Based on Toronto, Varicent was a privately held company founded in 2003. It has over 180 corporate customers, including banks, insurance companies, retailers, information technology and telecommunications providers. Starwood Hotels, Hertz and Office Depot have used the company's products.
Varicent software collects and compiles reports of sales data from different systems, such as finance, sales, human resources and IT departments. Such data can then be used to determine employee compensation, streamline territory assignments, manage sales quotas, and report on and analyze sales activities.
The software will be folded into IBM's Smarter Analytics line of software packages, joining analysis software from previous acquisitions, including Algorithmics, Clarity Systems, OpenPages, Cognos and SPSS. IBM has been deploying software from these acquisitions into packages, called Smarter Analytics Signature Solutions, that address specific needs such as fraud detection, financial operations and customer service.
IBM expects to generate $16 billion in the sales of data analysis systems and services by 2015. The company has almost 9,000 consultants and operational personnel devoted to business analysis systems. It also employs 400 researchers in the field, who are expected to secure hundreds of patents a year.