Mergers and Acquistions News
Categories: IT Services & Consulting
August 3rd 2009, 16:30PM
Computer giant IBM has announced that it has entered into a definitive merger agreement under which it intends to acquire data mining and statistical analysis software firm SPSS.
Under the terms of the agreement, IBM will acquire publically-held Chicago company SPSS in an all-cash transaction for $50 (£29.65) per share, giving the deal an estimated value of $1.2 billion (£712 million).
The acquisition, which is still subject to shareholder and regulatory approval, is expected to strengthen IBM's Information Agenda initiative, as well as expanding its Information on Demand software portfolio.
"With this acquisition, we are extending our capabilities around a new level of analytics that not only provides clients with greater insight - but true foresight," commented Ambuj Goyal, general manager of information management at IBM.
Also in the closing days of July, IBM announced that it had acquired Massachusetts-based software firm Ounce Labs for an undisclosed amount.
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