EXHIBIT 99.1

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                               -------------------

                                    FORM 11-K

                               -------------------

(Mark One)

|X|   ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES  EXCHANGE ACT OF
      1934 [FEE REQUIRED]

      FOR THE FISCAL YEAR ENDED DECEMBER 31, 2004

                                       OR

|_|   TRANSITION REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT
      OF 1934 [NO FEE REQUIRED]

      FOR THE TRANSITION PERIOD FROM___________________TO_______________________

                         COMMISSION FILE NUMBER 0-24277

               Full title of the plan and the address of the plan:

               Employee Stock Purchase Plan of Clarus Corporation
            Global Employee Stock Purchase Plan of Clarus Corporation
                               One Landmark Square
                               Stamford, CT 06901

           Name of issuer of the securities held pursuant to the plan
                 and address of its principal executive office:

                               Clarus Corporation
                               One Landmark Square
                               Stamford, CT 06901
<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                              PAGE
<S>                                                                                                                          <C>
Employee Stock Purchase Plan of Clarus Corporation:

       Report of Independent Registered Public Accounting Firm                                                                 3

       Statements of Financial Condition - December 31, 2004 and 2003                                                          4

       Statements of Operations and Changes in Plan Equity - Years ended
         December 31, 2004, 2003, and 2002                                                                                     5

       Notes to Financial Statements                                                                                           6

Global Employee Stock Purchase Plan of Clarus Corporation:

       Report of Independent Registered Public Accounting Firm                                                                 8

       Statements of Financial Condition - December 31, 2004 and 2003                                                          9

       Statements of Operations and Changes in Plan Equity - Years ended
         December 31, 2004, 2003 and 2002                                                                                     10

       Notes to Financial Statements                                                                                          11

Signatures                                                                                                                    13

Exhibit Index                                                                                                                 14
</TABLE>


                                       2
<PAGE>

             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors of Clarus Corporation:

We have  audited the  accompanying  statements  of  financial  condition  of the
Employee Stock Purchase Plan Clarus  Corporation (the "Plan") as of December 31,
2004 and 2003 and the  related  statements  of  operations  and  changes in plan
equity for each of the years in the  three-year  period ended December 31, 2004.
These financial statements are the responsibility of the Plan's management.  Our
responsibility  is to express an opinion on these financial  statements based on
our audits.

We conducted our audits in accordance  with the standards of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audits  provide  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material  respects,  the financial  condition of the Employee Stock Purchase
Plan of Clarus  Corporation  as of December 31, 2004 and 2003 and the results of
its  operations  and  changes  in  plan  equity  for  each of the  years  in the
three-year  period ended  December 31, 2004, in conformity  with U.S.  generally
accepted accounting principles.


/s/ KPMG LLP

Stamford, Connecticut

April 27, 2005


                                       3
<PAGE>

               EMPLOYEE STOCK PURCHASE PLAN OF CLARUS CORPORATION
                        STATEMENTS OF FINANCIAL CONDITION
                           DECEMBER 31, 2004 AND 2003


                                                               2004       2003
                                                             -------    -------
ASSETS                                                       $    --    $    --
                                                             =======    =======
LIABILITIES AND PLAN EQUITY                                  $    --    $    --
                                                             =======    =======

                 See accompanying notes to financial statements.


                                       4
<PAGE>

               EMPLOYEE STOCK PURCHASE PLAN OF CLARUS CORPORATION
               STATEMENTS OF OPERATIONS AND CHANGES IN PLAN EQUITY
                  YEARS ENDED DECEMBER 31, 2004, 2003 AND 2002

<TABLE>
<CAPTION>
                                                               2004          2003           2002
                                                             --------      --------       --------
<S>                                                            <C>        <C>            <C>
Participants' contributions, net                             $     --      $     --       $ 39,937

Contributions used for stock purchase                              --        (9,983)       (60,007)
                                                             --------      --------       --------

Net change in plan equity                                          --        (9,983)       (20,070)

Plan equity, beginning of year                                     --         9,983         30,053
                                                             --------      --------       --------

Plan equity, end of year                                     $     --      $     --       $  9,983
                                                             ========      ========       ========
</TABLE>

                 See accompanying notes to financial statements.


                                       5
<PAGE>

               EMPLOYEE STOCK PURCHASE PLAN OF CLARUS CORPORATION
                          NOTES TO FINANCIAL STATEMENTS
                        DECEMBER 31, 2004, 2003 AND 2002

1. Description of the Plan

The  following  description  of the  Employee  Stock  Purchase  Plan  of  Clarus
Corporation (the "Plan") provides general information only.  Participants should
refer to the Plan documents for more complete information.

The  purpose  of the  Plan  is to  encourage  and  assist  employees  of  Clarus
Corporation and its subsidiaries (the "Company"), by giving them the opportunity
to acquire an equity  interest in the Company  through the purchase of shares of
the Company's  common stock at a discount.  Generally,  eligible  employees,  as
defined  in the Plan  documents,  may  elect to have up to 15  percent  of their
annual  salary,  up to a maximum  of  $12,500  per  six-month  purchase  period,
withheld to purchase the Company's common stock at a price equal to the lower of
85 percent of the market price of Clarus  Corporation common stock at either the
beginning  or  the  end  of  the  six-month  offering  period.   There  were  no
participants in the Plan at December 31, 2004 and 2003,  respectively  and three
participants  in the Plan at December 31, 2002.  Effective  January 1, 2001, the
plan was amended and the $12,500  purchase period  limitation was removed.  Each
eligible  employee who elects to participate in the Plan is deemed to be granted
the option at the beginning of each six-month period to purchase shares of newly
issued common stock of the Company through regular payroll deductions during the
period  beginning  on the first day of each  six-month  period and ending on the
final day of the  six-month  period.  The  market  price used to  calculate  the
purchase  price  is  the  lower  of 85% of the  price  at the  beginning  of the
six-month period or 85% of the price at the end of the six-month period.

The Plan  allows a  participant  to  withdraw  all but not less than all payroll
deductions  credited to their account during a purchase period at any time prior
to the applicable  purchase date by giving  written  notice to the Company.  The
Plan was amended  effective August 29, 2001 to require that a withdrawal must be
made at least five business days prior to the purchase  date. No other  changes,
including increasing or decreasing the amount of payroll deductions, may be made
during the purchase period.

No  interest  will  accrue or be  payable  with  respect  to any of the  payroll
deductions  of a  Participant  in the  Plan.  All  employee  payroll  deductions
withheld by the Company under the Plan may be commingled  with the general funds
and assets of the Company and used by the Company for any corporate purpose.

                                       6
<PAGE>

The Company adopted the Plan in June 2000. A maximum of 750,000 shares of common
stock may be purchased  under the Plan.  As of December 31, 2000,  no shares had
been purchased. In January 2001, $103,577 was used to purchase 17,486 shares for
the period from June 13, 2000  (inception)  to December 31, 2000.  In July 2001,
$155,889 was used to purchase 30,214 shares for the period ending June 30, 2001.
In January 2002,  $30,006 was used to purchase  5,740 shares of common stock for
the period ending December 31, 2001. In July 2002,  $30,001 was used to purchase
7,059 shares of common stock for the period  ending June 30, 2002.  During 2003,
$9,983 was used to purchase 2,349 shares of common stock and $5,173 was refunded
to participants for the period ending December 31, 2002. The amount refunded was
the amount due to one  participant  who reached  the  Internal  Revenue  Service
$25,000  annual  limit of the amount of stock an employee  can  purchase at fair
market value.

2. Accounting Policy

The accompanying financial statements have been prepared on the accrual basis of
accounting.

3. Use of Estimates

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America requires  management to make
estimates that affect the amounts reported as assets,  liabilities,  and changes
therein, and the disclosure of contingent assets and liabilities. Actual results
could differ from those estimates.

4. Administrative Expenses of the Plan

The Company pays all  administrative  expenses of the Plan. The Company pays any
brokerage  fees for the  purchase of shares on behalf of the Plan  participants,
but  the   participants   pay  brokerage  fees  for  the  resale  of  shares  by
participants.

5. Federal Income Tax

The Plan is intended to comply under section 423 of the Internal Revenue Code of
1986,  as  amended.  Under  existing  federal  income tax laws,  the Plan is not
subject to federal income tax.  However,  when a participant sells any shares of
stock purchased  through the Plan, that  participant must recognize income taxes
on any gain or loss.

6. Plan Termination

Although it has not  expressed any intent to do so, the Company has the right to
terminate or amend the Plan at any time, provided,  however, that no termination
or amendment shall affect or diminish any participant's  right to the benefit of
contributions  made by the  participant  prior to the date of such  amendment or
termination.


                                       7
<PAGE>

             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors of Clarus Corporation:

We have audited the accompanying statements of financial condition of the Global
Employee  Stock  Purchase Plan of Clarus  Corporation  (the "Global Plan") as of
December 31, 2004 and 2003 and the related  statements of operations and changes
in plan equity for each of the years in the three-year period ended December 31,
2004.  These financial  statements are the  responsibility  of the Global Plan's
management.  Our  responsibility  is to express  an  opinion on these  financial
statements based on our audits.

We conducted our audits in accordance  with the standards of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audits  provide  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material  respects,  the financial  condition of the Global  Employee  Stock
Purchase  Plan of Clarus  Corporation  as of December  31, 2004 and 2003 and the
results of its  operations  and  changes in plan equity for each of the years in
the three-year period ended December 31, 2004, in conformity with U.S. generally
accepted accounting principles.


/s/ KPMG LLP

Stamford, Connecticut

April 27, 2005


                                       8
<PAGE>

            GLOBAL EMPLOYEE STOCK PURCHASE PLAN OF CLARUS CORPORATION
                        STATEMENTS OF FINANCIAL CONDITION
                           DECEMBER 31, 2004 AND 2003

                                                              2004        2003
                                                             ------      ------
ASSETS                                                       $   --      $   --
                                                             ======      ======
LIABILITIES AND PLAN EQUITY                                  $   --      $   --
                                                             ======      ======

                 See accompanying notes to financial statements


                                       9
<PAGE>

            GLOBAL EMPLOYEE STOCK PURCHASE PLAN OF CLARUS CORPORATION
               STATEMENTS OF OPERATIONS AND CHANGES IN PLAN EQUITY
                  YEARS ENDED DECEMBER 31, 2004, 2003 AND 2002

<TABLE>
<CAPTION>
                                                               2004         2003          2002
                                                             --------     --------      --------
<S>                                                            <C>          <C>       <C>
Participants' contributions, net                             $     --     $     --      $  9,305

Contributions used for stock purchase                              --           --       (27,909)
                                                             --------     --------      --------
Net change in plan equity                                          --           --       (18,604)

Plan equity, beginning of year                                     --           --        18,604
                                                             --------     --------      --------

Plan equity, end of year                                     $     --     $     --      $     --
                                                             ========     ========      ========
</TABLE>

                 See accompanying notes to financial statements


                                       10
<PAGE>

            GLOBAL EMPLOYEE STOCK PURCHASE PLAN OF CLARUS CORPORATION
                          NOTES TO FINANCIAL STATEMENTS
                        DECEMBER 31, 2004, 2003 AND 2002

1. Description of the Plan

The following  description of the Global  Employee Stock Purchase Plan of Clarus
Corporation (the "Global Plan") provides general information only.  Participants
should refer to the Global Plan documents for more complete information.

The  purpose of the  Global  Plan is to  provide a means for  non-U.S.  resident
employees and other employees whose participation in the Employee Stock Purchase
Plan  of  Clarus   Corporation  is  impractical  or  impermissible  due  to  the
constraints  of  local  law  or  otherwise  to  acquire  shares  of  the  Clarus
Corporation and its  subsidiaries  (the  "Company")  common stock at a discount.
Generally,  eligible  employees,  as defined in the Global Plan  documents,  may
elect to have up to 15  percent  of their  annual  salary,  up to a  maximum  of
$12,500  six-month  month  purchase  period,  withheld to purchase the Company's
common  stock at a price equal to the lower of 85 percent of the market price of
Clarus  Corporation  common  stock at  either  the  beginning  or the end of the
six-month  offering  period.  There were no participants in the Plan at December
31,  2004 or 2003.  Effective  January 1,  2001,  the plan was  amended  and the
$12,500  purchase  period  limitation  was removed.  Each eligible  employee who
elects to  participate  in the Global Plan is deemed to be granted the option at
the beginning of each six-month period to purchase shares of newly issued common
stock of the  Company  through  regular  payroll  deductions  during  the period
beginning on the first day of each six-month  period and ending on the final day
of the six-month  period.  The market price used to calculate the purchase price
is the lower of 85% of the price at the beginning of the six-month period or 85%
of the price at the end of the six-month period.

The Global  Plan  allows a  participant  to  withdraw  all but not less than all
payroll  deductions  credited to their account  during a purchase  period at any
time  prior to the  applicable  purchase  date by giving  written  notice to the
Company. The Global Plan was amended effective August 29, 2001 to require that a
withdrawal  must be made at least five business days prior to the purchase date.
No other  changes,  including  increasing  or  decreasing  the amount of payroll
deductions, may be made during the purchase period.

No  interest  will  accrue or be  payable  with  respect  to any of the  payroll
deductions of a Participant in the Global Plan. All employee payroll  deductions
withheld by the Company under the Global Plan may be commingled with the general
funds and  assets  of the  Company  and used by the  Company  for any  corporate
purpose.

The Company adopted the Global Plan in July 2000. A maximum of 250,000 shares of
common stock may be purchased under the Global Plan. For the period from July 1,
2000 through  December 31,  2000,  $38,716 was used to purchase  4,557 shares of
common stock under the Global Plan.  In July 2001,  $36,354 was used to purchase
7,046  shares for the period  ending  June 30,  2001 under the Global  Plan.  In
January 2002,  $18,584 was used to purchase 3,555 shares of common stock for the
period ending December 31, 2001. In July 2002, $9,325 was used to purchase 2,194
shares of common stock for the period ending June 30, 2002.


                                       11
<PAGE>

2. Accounting Policy

The accompanying financial statements have been prepared on the accrual basis of
accounting.

3. Use of Estimates

The  preparation  of financial  statements  in  conformity  with U.S.  generally
accepted accounting principles requires management to make estimates that affect
the  amounts  reported as assets,  liabilities,  and  changes  therein,  and the
disclosure of contingent  assets and  liabilities.  Actual  results could differ
from those estimates.

4. Administrative Expenses of the Global Plan

The Company pays all  administrative  expenses of the Global  Plan.  The Company
pays any brokerage  fees for the purchase of shares on behalf of the Global Plan
participants,  but the  participants pay brokerage fees for the resale of shares
by participants.

5. Federal Income Tax

The Global Plan is not  intended  to comply  under  section 423 of the  Internal
Revenue Code of 1986,  as amended.  The Global Plan is  principally  designed to
provide a means for  non-U.S.  resident  employees  and  other  employees  whose
participation  in the Employee  Stock  Purchase  Plan of Clarus  Corporation  is
impractical or impermissible due to the constraints of local law or otherwise to
acquire shares of the Company's common stock

6. Plan Termination

Although it has not  expressed any intent to do so, the Company has the right to
terminate  or amend the  Global  Plan at any time,  provided,  however,  that no
termination or amendment shall affect or diminish any participant's right to the
benefit  of  contributions  made by the  participant  prior  to the date of such
amendment or termination.


                                       12
<PAGE>

                                   SIGNATURES

Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the Plan
and Global Plan's  Administrator has duly caused this annual report to be signed
on its behalf by the undersigned hereunto duly authorized.

Employee Stock Purchase Plan of Clarus Corporation
Global Employee Stock Purchase Plan of Clarus Corporation

By:


/s/ NIGEL P. EKERN
-----------------------------
Nigel P. Ekern
Chief Administrative Officer


/s/ SUSAN LUCKFIELD
-----------------------------
Susan Luckfield
Chief Accounting Officer

Dated: April 29, 2005