IBM to buy SPSS Inc. in $1.2 billion cash deal |
| MarketWatch - Jul 28, 2009 |
IBM Corp. was in the acquisition frame of mind on Tuesday after it announced plans to acquire SPSS Inc. for about $1.2 billion as part of a broader foray into the market for business-analytics software.
Additionally, IBM said it would acquire privately held Ounce Labs Inc. for an undisclosed amount.
IBM /quotes/comstock/13*!ibm/quotes/nls/ibm (IBM 116.93, -0.70, -0.60%) said the SPSS acquisition will help it better meet its clients needs for technology that helps them cut costs and risk while increasing profitability. IBM already licenses SPSS technology and has shifted more research and personnel into the business-analytics area in recent months.
The deal values SPSS /quotes/comstock/15*!spss/quotes/nls/spss (SPSS 49.39, +14.30, +40.75%) at $50 a share, a 42% premium over the stock's Monday closing price. In early trading Tuesday, SPSS shares rose $14, or more than 40%, to $49.15.
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- Posted: 2009-07-28 09:51:19
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