Market Overview

IBM Buys Varicent Software

It was revealed on Friday that International Business Machines (NYSE: IBM) has agreed to buy Canadian analytics software provider Varicent Software.

Varicent uses its software to manage compensation and sales performance, automating and integrating sales information and allowing companies to determine compensation and sales force deployment.

While the terms of the deal haven't been disclosed as yet, IBM is expecting to generate $16 billion of analytics revenue in 2015.

Varicent is the latest in a long line of companies recently acquired, including Algorithmics, Clarity Systems, OpenPages, Cognos and SPSS. IBM is obviously actively seeking to add analytics tools and better deploy employees in areas like sales, finance, customer service and marketing.

“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,” said Dan Shimmerman, chief executive officer of Varicent. “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.”

Following the acquisition, IBM moved up 0.7% to $203.95 on Friday morning.

Follow me @BCallwood.

Posted-In: Varicent SoftwareNews M&A Tech Best of Benzinga

 

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