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IBM buys Clarity Systems for financial software

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

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Tags business issuesMergers / acquisitionsapplicationsdocument managementIBMsoftwareFinancial / tax

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