Predicting the future
Software and services giant IBM has announced it has entered into a definitive agreement to acquire data mining software company SPSS for around $1.2 billion in cash.
IBM is expecting the acquisition to further expand its Information on Demand software portfolio and business analytics capabilities and more generally to augment its strategic consulting business. The press release quotes an IDC estimate that puts the total value of the business analytics software market at $25 billion.
"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," said Ambuj Goyal, GM of information management at IBM.
"In joining with IBM, we will advance Predictive Analytics as a competitive advantage for companies and organizations worldwide," said Jack Noonan, president, chairman and CEO of SPSS. "We see this as a transformative event that will accelerate the adoption of Predictive Analytics."
The acquisition will be subject to the usual regulatory approval and is expected to close before the end of the year. Here's a video from IBM that attempts to explain its business analytics proposition.
