October 21, 2010 – IBM stated its plans to acquire Clarity Systems, a privately held financial governance software company based in Toronto, which analysts say should enhance the company’s offerings in the financial and governance, risk and compliance areas, and provide an opportunity for other GRC vendors.

Clarity provides financial governance software that enables organizations to automate collection, preparation and certification of financial statements for electronic filing, particularly for SEC and other regulatory mandates, according to an IBM news release. The buyout gives IBM an innovative financial government product in Clarity, and could open up room for others in Clarity’s place, says Dave Kasabian, founder and analyst with Pervasive Performance Group, who was briefed on the acquisition by IBM after Thursday’s announcement.

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