Certent has signed a definitive agreement with IBM to acquire the IBM Cognos Disclosure Management (CDM), IBM Cognos Disclosure Management on Cloud (CDM on Cloud), IBM Cognos Financial Statement Reporting (FSR), and IBM Clarity 7 products.
IBM will continue to be a partner of Certent’s under a reseller agreement. Other terms of the transaction were not disclosed.
The IBM suite of products offers on-premise and cloud platforms for multi-author reports to financial and disclosure reporting teams in North America, APAC and Europe, which give organisations advanced capabilities to handle regulatory requirements involving US GAAP and XBRL, IFRS and European Banking Authority and insurance industry frameworks.
Hundreds of customers rely on these products to address complexities surrounding regulatory reporting mandates such as Solvency II, COREP and FINREP.
Certent CEO Michael Boese said: “This acquisition supports our strategy to be the leading global provider of financial reporting and compliance software and services.It will expand our product suite, accelerate our product roadmap and expand our international footprint.”
Certent VP Don Hill said that customers, partners and employees will all see tremendous benefits from this union.
“We have been providing Disclosure Management services as an IBM partner since 2013. In addition to the planned product innovations associated with this deal, we are excited to bring the same world class services to our expanded customer base around the world.”
