Armonk (New York): IBM Corp said Tuesday it agreed to acquire SPSS Inc., a Chicago-based company that specializes in software that help businesses spot future trends as well as shifts in consumer patterns and behavior, for USD1.2 billion.
Armonk, New York-based IBM said the acquisition of SPSS for
USD50 per share will boost its business-analytics technology,
which can also be used to help reduce credit risk, increase
customer loyalty and detect and prevent fraud across diverse
industries, it said.
The deal represents a 42 percent premium to SPSS closing
price Monday of USD35.09. In premarket trading Tuesday, SPSS
shares soared to USD49.15, up USD14.06, or 40 percent. IBM shares
shed 61 cents to USD117.02.
SPSS software predicts customer reactions, including to
sales pitches and marketing campaigns. Clients include
financial firms, telecommunications companies, government
agencies and educational institutions.
The deal is expected to close later in the second half,
subject to approval by SPSS shareholders and regulatory
clearances.
Separately, IBM also said it has acquired Ounce Labs
Inc., a privately held software company in Waltham,
Massachusetts, for an undisclosed amount. IBM said the company
makes software that helps businesses reduce the risk and costs
associated with security and compliance concerns.
Bureau Report
First Published: Tuesday, July 28, 2009, 22:37