IBM buys Clarity Systems for financial software

Big Blue also announced the closing of its OpenPages acquisition

IBM said Thursday it has purchased financial governance software maker Clarity Systems. Terms were not disclosed.

Clarity Systems, based in Toronto, has some 600 customers around the world. Its software includes Clarity 7, which provides financial budgeting, planning, forecasting and analysis capabilities. The company also sells Clarity FSR, a product that helps finance departments handle regulatory reporting and filing requirements.

The company will be rolled into IBM's analytics software portfolio. Big Blue has spent more than US$14 billion on analytics acquisitions and related activities in the past four years, according to a statement.

There appears to be some overlap between Clarity's technology and IBM's Cognos performance management software. However, "client and partner investments in existing IBM and Clarity Systems technologies will be preserved," IBM said.

Clarity was already partnering with IBM, as well as Oracle, Microsoft and Fujitsu.

Also Thursday, the company said it had completed its acquisition of GRC (governance, risk and compliance) vendor OpenPages, which was announced in September.

Together with Clarity Systems' technology IBM will be able to offer chief financial officers a comprehensive set of financial governance tools, the company said.

Those acquisitions and other topics will likely be part of IBM's Information on Demand conference, which gets under way Sunday in Las Vegas.

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris's e-mail address is Chris_Kanaracus@idg.com

Tags business issuesdocument managementapplicationsMergers / acquisitionsIBMsoftwareFinancial / tax

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Chris Kanaracus

IDG News Service

Comments

Comments are now closed.

Most Popular Reviews

Follow Us

Best Deals on GoodGearGuide

Shopping.com

Latest News Articles

Resources

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Latest Jobs

Shopping.com

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?