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Armonk, N.Y. -- IBM announced a definitive agreement to acquire Varicent Software Inc., Toronto, a leading provider of analytics software for compensation and sales performance management. Financial terms were not disclosed.
Varicent software automates and analyzes the collection and reporting of sales data across finance, sales, human resources and IT departments to gain efficiencies, uncover trends and improve sales performance. The acquisition accelerates IBM's Smarter Analytics capabilities across line of business operations in all industries, and will be combined with IBM's existing software offerings that are delivered to clients through on-premise or cloud computing models.