IBM continues its buying spree with acquisition of Toronto-based Clarity Systems

Posted by Darren Anderson

Clarity Systems logoOn the same day that it finalized its acquisition of OpenPages, IBM announced that it has purchased Toronto-based Clarity Systems for an undisclosed sum.

Clarity Systems, a financial software specialist that was founded back in 1995 competes with industry juggernauts like Oracle, SAP and even IBM. Although the company is privately-held, it has long published its revenue publicly on the Branham300. Since 2001, Clarity Systems has realized some impressive growth:


No wonder they were an acquisition target. Despite the tail-end of the tech-bubble in the early portion of the decade and the recession that many think (including me) that we are still going through now, Clarity Systems has surged onward and realized tremendous growth. 

This acquisition makes sense for IBM because it now adds yet another tool to its cupboard of business analytics solutions. IBM will also add a list of 600 global clients that are currently using Clarity's software, as well as nearly 400 in staff.

The new group will report into IBM's Ottawa-based offices, and will fall under the leadership of Rob Ashe, former CEO of Cognos, which IBM acquired in a massive US$5 billion transaction back in late-2007. 

Company:
Clarity Systems
Website:
http://www.claritysystems.com
Location:
Toronto, Ontario, Canada

Clarity Systems delivers software solutions to the Office of Finance. Our software helps large and mid-market organizations around the world improve their budgeting, forecasting, planning, consolidation, scorecarding and management reporting processes, and also automates their external reporting processes to support the production of regulatory and statutory reports. Our unified applications help CFOs reduce risk... more


Related Articles


blog comments powered by Disqus

Darren Anderson

Darren Anderson

Darren Anderson is an analyst at Branham Group Inc., a leading industry analyst and strategic consulting firm servicing the global information technology marketplace. Each year he coordinates the Branham300, an annual ranking of the top 300 Canadian technology companies, allowing him to keep tabs on the happenings within Canada’s Information and Communication Technology industry. Beyond his... more



Who's Hiring



Recent Comments

Powered by Disqus