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.