IBM yesterday wrapped up its acquisition of Varicent, a developer of business analytics software for analysing compensation and sales performance management data.
IBM, which unveiled the acquisition deal last month, did not disclosed the price it paid for privately-held Varicent.
The acquisition supports IBM's long-term growth strategy in business analytics and optimisation software and services -- a market IBM forecasts will generate $US16 billion in revenue in 2015.
IBM has made a number of acquisitions in the business analytics realm in recent years including Algorithmics, Clarity Systems, Cognos, OpenPages and SPSS.
Varicent's applications are used to collect and analyse sales data across finance, sales, human resource and IT departments to help businesses gain efficiencies, uncover trends and improve their sales-related processes.
The Varicent products specifically bolster IBM's Smarter Analytics product line geared toward line-of-business applications.
With the closing of the acquisition, some 200 Varicent employees are expected to join the IBM Software Group.
IBM also said it would continue to support Varicent's clients during the transition. The company has more than 180 customers including Starwood Hotels, Covidien, Hertz and Office Depot.
This article originally appeared at crn.com
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Issue: 342 | September 2015