IBM has announced it will be buying SPSS, an analytical and software solutions provider for $50 per share, or $1.2 billion. IBM expects the move to strengthen its information-agenda initiative, which helps companies take information and transform it into a strategic asset.
“We and IBM view this as a highly-complementary move from both a technology and a market position perspective. We’re excited about this agreement and the positive prospects that SPSS and IBM can achieve together in continuing to lead an industry that we helped shape,” said SPSS President and CEO Jack Noonan. “In joining with IBM, we will advance Predictive Analytics as a competitive advantage for companies and organizations worldwide.”
SPSS will become part of the Information Management division within the Software Group business unit. The deal is subject SPSS shareholder approval, regulatory clearances, and other conditions. It is expected to be completed later in the second half of 2009.