International Business Machines Corp. (IBM) said it has completed the acquisition of Varicent Software Inc., a provider of analytics software for compensation and sales performance management. Financial terms will not be disclosed.
Varicent's software automates and analyzes data across sales, finance, human resources and IT departments to uncover trends and improve sales performance and operations. The acquisition enhances IBM's Smarter Analytics capabilities across line of business operations in all industries.
Moreover, the news supports IBM's long-term growth strategy to expand the company's business analytics and optimization software and services capabilities, an area of IBM's business that is expected to reach $16 billion in revenue by 2015.
With the closing of this acquisition, approximately 200 Varicent employees will join IBM's Software Group.
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