IBM Corp. today said it has acquired financial reporting software provider Clarity Systems, a move intended to augment IBM’s growing stable of analytics software and business intelligence products.
Privately owned Clarify and its 400 employees will become part of IBM’s growing Business Analytics software portfolio. IBM did not release financial details of the deal.
The company’s Clarity 7 and Clarity FSR products are used primarily by financial departments to perform budgeting, planning, consolidation, and reporting tasks. The Clarity applications also help enterprises track and compile financial information for external and regulatory reporting.
Among Clarity’s 600 customers are manufacturers such as Alcon, Cabot, Continental Grain, GlaxoSmithKline, and Wyeth.