IBM Buys SPSS for $1.2B | SPSS Software
SPSS Inc. is the leading manufacturer of a tool widely used by mathematicians and statisticians like this author, the SPSS. This software has been around for years and this blogger has used it for 13+ years as the primary tool in data mining and analysis. Personally, I did not expect SPSS to be worth this much when I heard the news that the IBM-SPSS merger has become a reality.
IBM, in their official announcement, said that the acquisition of SPSS has a “price of $50/share, resulting in a total cash consideration in the merger of approximately $1.2 billion. The acquisition is subject to SPSS shareholder approval, applicable regulatory clearances and other customary closing conditions. It is expected to close later in the second half of 2009.”
SPSS Inc., on the other hand, announced in their website that the merger is beneficial to both parties especially the end-users as this will empower more customers in arriving at decisive business decisions using the SPSS software. Along with the influence of IBM in the computing industry, the tandem is expected to be a hit.
The official statement of SPSS Inc. directed particularly to their customers is shown below:
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. The depth and breadth of IBM’s resources, its customer and market reach can only enhance our ability to address the growing market for Predictive Analytics.
In joining with IBM, we will advance Predictive Analytics as a competitive advantage for companies and organizations worldwide. We see this as a transformative event that will accelerate the adoption of Predictive Analytics.
Between now and the acquisition close, we will continue to support our customers and partners in normal fashion. Existing contracts will remain in effect, account relationships and support infrastructure will remain unchanged.
We value your continued interest and support of SPSS.
Regards,
Jack Noonan
Chairman, CEO & President
SPSS Inc.
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