IBM acquires BI software provider

Read time 1min 20sec

IBM acquires BI software provider

EMBEDDED]Adding to its already considerable line of analysis software and expertise, IBM last week acquired business intelligence software provider Varicent Software, Computerworld writes.

Terms of the deal were not disclosed. Based in Toronto, Varicent was a privately held company founded in 2003.

It has more than 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 expects to mature its offerings as a part of IBM, IT Jungle reports.

“Sales performance management is still viewed by many in the industry as an art versus a science, but there is plenty of opportunity for this mindset to change,” Varicent president and CEO Dan Shimmerman said in a press release.

“As part of IBM, we can now bring our technological expertise in maturing and advancing the efficiency and effectiveness of the sales function to a broader range of clients across the globe, who are looking to improve their processes, and strategically align incentive compensation with profitable growth.”

IBM expects to generate $16 billion in the sales of data analysis systems and services by 2015, Tech states.

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.

Admire Moyo
ITWeb's business editor.

Admire Moyo is ITWeb's business editor. He has been a tech journalist at ITWeb since 2010. Before joining ITWeb, Admire worked for The Herald newspaper based in Zimbabwe. He holds a BA degree (English and History) from Africa University.

Have your say
a few seconds ago
Be the first to comment