IBM completes acquisition of Varicent Software Incorporated
Technology giant IBM has finished up its acquisition of analytics software provider Varicent Software Incorporated for an undisclosed sum.
The deal will enhance IBM’s Smarter Analytics capabilities across line of business operations in all industries.
Varicent Software Incorporated’s software has a focus on compensation and sales performance management. It automates and analyses data across sales, finance, human resources and IT departments to uncover trends and improve sales performance and operations.
"Varicent advances IBM’s efforts to deliver analytics directly into the hands of front-line employees, helping them uncover new ways to remain competitive and stay ahead of increasing demand,” said Les Rechan, IBM general manager, Business Analytics.
"The combination of Varicent’s software and IBM's deep analytics expertise delivers a comprehensive approach to managing sales performance, allowing clients to make more informed decisions faster."
Varicent software allows companies across various industries, including retail, banking, insurance, and telecommunications, to facilitate and streamline quota planning, compensation, sales assignments and managing quotas and insights into sales activities.
Varicent is headquartered in Toronto, Canada with additional operations in North America, EMEA and Asia Pacific. About 200 of its employees will join IMB’s Software Group as part of the deal with IBM.