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IBM To Acquire SPSS For $1.2 Billion

Wednesday, July 29, 2009

IBM said Tuesday that it has agreed to acquire SPSS Inc., a Chicago-based developer of software that helps companies predict demand environments, market opportunities, pricing trends, and other business conditions. Also Tuesday, IBM said it has bought out security and compliance software maker Ounce Labs. Terms were not revealed. IBM will pay $50 per share, or about $1.2 billion, to acquire SPSS. Big Blue said it expects to close the transaction by year's end. SPSS shares were up 40% early Tuesday, to $49.12. IBM shares were off .67% to $116.84.

Article sourced from www.intelligententerprise.com, click here to read full story.

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