IBM subject to SEC probe

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IBM is being investigated by the US Securities and Exchange Commission (SEC) concerning certain revenue recognition practices in 2000 and 20001 relating to its Retail Store Solutions unit.

The unit, which is part of the company’s Personal Systems Group, sells point-of-sales systems, and in a statement, Big Blue said it believes the formal, non-public, fact-finding probe has arisen from a separate investigation of one of its customers.

In a statement after the markets closed on Monday, IBM said that “its business and accounting policies comply with all applicable regulations and [it] is committed to maintaining the highest standards of compliance relating to its financial reporting”.

News of the probe saw the vendor’s shares drop as much as $3.00 in after-hours trading from $87.33 at the official close of play.

Meanwhile, IBM also unveiled DB2 Cube Views, formerly code-named Aurora, which makes it easier for third party business intelligence (BI) products to analyse data held in the supplier’s database.

DB2 Cube Views automates the creation of online analytical processing metadata - data that defines, describes and indexes information held in the database – which can be shared by different BI tools by acting as a bridge between them and the database.

The offering is due to ship on 27 June and IBM has lined up support from 15 BI vendors, including Brio, Cognos and Business Objects.

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