IBM Acquires Clarity

Oct 26, 2010

IBM acquired Clarity Systems, a developer of financial governance software. IBM reports that this acquisition will extend its business analytics initiatives and expand its portfolio of business analytics software.

Clarity Systems' software allows business finance experts to combine and integrate disparate information for more efficient planning, consolidation, and financial reporting. The company has 600 clients across multiple industries, including British Airways, Five Star Quality Care, and WSFS Financial Corporation.

IBM also acquired OpenPages, a provider of risk compliance management systems. IBM says that it will, as part of this acquisition, introduce new templates for banking and insurance which will expand the functionality of the company's Industry Frameworks for Banking and Insurance. More than 200 clients across several industries make use of OpenPages software, including Carnival Corporation, Duke Energy, and Barclays.