IBM Completes SPSS Buy
IBM has completed its $1.2bn acquisition of MR software and predictive analytics giant SPSS. The completion was announced on Friday after SPSS shareholders gave their approval.
IBM announced on 28th of July that it had agreed to acquire SPSS. After the announcement, an investigation was initiated by a number of SPSS shareholders who claimed the firm had failed to conduct a fair auction, and that the offer of $50 per share was 'opportunistically timed' to take advantage of the economic downturn. However it then emerged that SPSS had apparently held out for $50 a share, rejecting approaches from two other companies, and two initial offers from IBM itself.
In September, SPSS announced second quarter revenues of $69.7m, down 8% from the previous year period.
IBM says SPSS will be integrated into its Information Management software portfolio and the many industry offerings already available; and that predictive analytics will form 'an essential component' of IBM's huge drive for 'smarter business systems... to help address the complex challenges presented by the exponential growth of data.' The acquisition strengthens the range of offerings available through the recently announced 4,000-strong IBM Business Analytics and Optimization consulting organization.
Also on Friday, the computer giant opened its first US-based Business Analytics Solution Center in New York, to provide clients with mathematical, modeling and optimization services.
Web sites: www.ibm.com and www.spss.com .