IBM will acquire Chicago-based software-maker SPSS for $50 a share, or $1.2 billion.
IBM says the buy will strengthen its information-agenda initiative, “which helps companies turn information into a strategic asset,” according to the AP.
According to SPSS’s Web site, its clients use its predictive analytics software to:
“Anticipate change, manage both daily operations and special initiatives more effectively, and realise positive, measurable benefits. By incorporating predictive analytics into their daily operations, they become Predictive Enterprises—able to direct and automate decisions to meet business goals and achieve measurable competitive advantage.”
Here’s the AP report:
ARMONK, N.Y. — IBM is acquiring analytics-software maker SPSS in an all-cash transaction at $50 per share for a deal valued at about $1.2 billion.
Armonk, N.Y.-based IBM says the acquisition of the Chicago-based company is expected to strengthen IBM’s information-agenda initiative, which helps companies turn information into a strategic asset.
SPSS software predicts customer reactions to a wide range of fields, including sales pitches and marketing campaigns. Clients include financial firms, telecommunications companies, government agencies and educational institutions.
Shares of IBM fell 67 cent to $116.96 in premarket trading on Tuesday. SPSS shares jumped 41 per cent to $49.59 in premarket trading.
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