IBM has signed a definitive agreement to acquire Varicent Software, a provider of analytics software for compensation and sales performance management. Varicent is a privately held company, with headquarters in Toronto, Canada. Financial terms were not disclosed. The acquisition is subject to customary closing conditions and is expected to close in the second quarter of 2012. With the closing of this acquisition, it is expected that all of Varicent’s employees will join IBM’s Software Group.
Dan Shimmerman (President and CEO, Varicent): 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 mind set to change.
Varicent software automates and analyzes the collection and reporting of sales data across finance, sales, human resources and IT departments. Founded in 2003, Varicent has more than 180 customers using its software, including: Starwood Hotels, Covidien, Dex One, Manpower, Hertz, Office Depot and Farmers.
[Image Courtesy: Varicent Software]