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IBM to acquire SPSS for $1.2 Billion
By siliconindia
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Bangalore: IBM is ready to buy SPSS, an analytics and information forecaster for $1.2 billion in cash. IBM is paying $50 per share for the publicly traded company, which is headquartered in Chicago. SPSS is a provider of predictive analytics software and solutions.
Predictive analytics software is used to gather opinions from customers, forecast future demand and package the information into business analytics. By capturing and analyzing trends, the software tries to help companies in developing products and services, which will help to target their customers in better way. Ambuj Goyal, General Manager, IBM's Information Management said, "Predictive analytics can help clients' move beyond the 'sense and respond' mode, which can leave blind spots for strategic information in today's fast paced environment - to 'predict and act' for improved business outcomes."
Big Blue has already tapped into the market for predictive analytics software with its Information on Demand (IOD) services and its new business analytics and optimization consulting operation. The acquisition of SPSS may add an array of advanced analytic capabilities to IBM's IOD software portfolio enabling several new industry focused solutions including; customer acquisition and retention for financial services, patient care improvement for the healthcare industry, crime prevention for public sector and ideal store location for retailers and manufacturers.
Subjected to approval from SPSS investors, the deal is expected to close in the second half of 2009. Following the acquisition, IBM intends to integrate SPSS into its information management software portfolio. The SPSS buyout is just the latest move in Big Blue's drive to win a greater share of the business analytics market. In May, IBM picked up the data analytics firm Exeros.