Agreement extends Certent's leadership in financial and management reporting solutions
PLEASANTON, Calif., June 30, 2017 /PRNewswire/ -- Certent, Inc. announced today that it has signed a definitive agreement with IBM Corporation 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 organizations 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.
"This acquisition supports our strategy to be the leading global provider of financial reporting and compliance software and services," says Michael Boese, CEO of Certent. "It will expand our product suite, accelerate our product roadmap and expand our international footprint."
"Our customers, partners and employees will all see tremendous benefits from this union," says Don Hill, VP of Disclosure Management Services at Certent. "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."
About Certent Certent, Inc. is a leading provider of software and services for equity compensation and financial disclosure management and reporting. Founded in 2002, Certent serves more than 2,400 public, private, and pre-IPO companies with innovative stock plan management, regulatory compliance and reporting technology. With five global offices, Certent delivers confidence across mission-critical finance and HR processes.