IBM has signed an agreement to acquire Varicent Software, a Canada based provider of analytics software for management of compensation and sales performance.
Varicent software automates and analyses the collection and reporting of sales data across finance, sales, human resources and IT departments to gain efficiencies, unravel trends and improve sales performance.
The acquisition will enable IBM accelerate its Smarter Analytics capabilities across line of business operations in all industries.
The deal will also enable IBM to combine its Smarter Analytics capabilities with existing software applications that are delivered to clients through on-premise or cloud computing models.
IBM will expand its capabilities in business analytics and optimisation across finance, sales, and customer service operations by combining Varicent with its R&D and prior acquisitions including Algorithmics, Clarity Systems, OpenPages, Cognos and SPSS.
Following the acquisition, all Varicent employees are expected to join IBM’s Software Group, said the company.
IBM Business Analytics general manager Les Rechan said the acquisition of Varicent drives IBM’s analytics capabilities into the hands of front line employees to transform business operations and improve the bottom line.
"For the thousands of sales organizations still relying on silos of data, spreadsheets and e-mail to manage sales, there is an enormous opportunity to apply analytics to this vital area of business and uncover new, untapped growth opportunities," said Rechan.
