UNICOM® Global acquires Cognos® Finance Business Analytics software from IBM® Corp

Acquisition is 3rd transaction between the companies in the last 8 months

MISSION HILLS, CA – August 31, 2014 – UNICOM Systems, Inc., a Division of UNICOM Global, today announced that it has acquired the IBM® Cognos®Finance business analytics software from International Business Machines Corp. (IBM).  The acquisition includes certain IBM Cognos Finance technology and worldwide customer base. Terms of the transaction were not disclosed.

UNICOM Global’s founder, president and CEO, Mr. Corry Hong, said that this acquisition with IBM, the 3rd in the last 8 months between the companies, reflects the trust and confidence between UNICOM Global and IBM that has been established through the careful handling of the transactions by both organizations.

“UNICOM’s foundation and strategy has revolved around IBM and its customers since 1981, and we share common values of dedicated support and nurturing of our respective customer bases,” said Mr. Hong.  “For example, following our acquisition of the Cognos ADT Suite of products from IBM on December 31, 2013, we worked rapidly to involve that customer base in charting the future, holding a worldwide user group and strategy session in Beverly Hills, California.  UNICOM will continue to build on the trust between our companies, and our newest group of customers using the IBM Cognos Finance software, to protect and extend the customers’ investments.” 

As part of the transaction, UNICOM will bring certain IBM development resources for IBM Cognos Finance on board to strengthen the UNICOM R&D team. Additionally, UNICOM has executed a Transition Services Agreement with IBM whereby IBM will provide certain transition services to and on behalf of UNICOM to allow for a smooth and seamless transition for all of the IBM Cognos Finance customers worldwide.

The product, rebranded as UNICOM® Finance, provides a single financial view of enterprise information by consolidating multiple data sources such as general ledgers, spreadsheets or even manual input, into a dimensional chart-of-accounts structure. The consolidation process can calculate the effects of multiple reporting currencies, intercompany eliminations and multi-tiered allocations, as well as calculate a wide range of financially intelligent metrics.

The acquisition of the IBM Cognos Finance solution from IBM expands and builds on UNICOM’s strategic IT capabilities and offerings, which will benefit UNICOM customers, technology partners and supply-chain partners. UNICOM continues to grow through sustained leadership, extensive capital resources, and its global presence thereby strengthening existing relationships with Fortune 500 and Global 2000 commercial customers, as well as with OEM, Support Providing Partners, other strategic partners, the U.S. Federal Government, State, Local and Municipal government entities, and with key healthcare providers.