IBM Buys Clarity Systems

ARMONK, N.Y. (AP) -- IBM Corp. said Thursday it acquired Clarity Systems, a privately held financial governance software maker, for an undisclosed amount.

Clarity Systems, based in Toronto, makes software that helps companies prepare, certify and control financial statements for electronic filing with regulatory agencies. Clarity Systems has 600 global customers in many industries, including British Airways, IBM said.

IBM said the deal extends its portfolio of business analytics software financial professionals to plan, forecast and analyze performance, identify and manage key business risks and issue reports. Buying Clarity Systems brings 400 employees into its Business Analytics division.

More in Supply Chain