IBM has agreed to acquire SPSS, a Chicago-based analytics software specialist, the companies said Tuesday.
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SPSS specializes in predictive analytics tools that help companies mine historical business data to identify future trends that they can exploit for greater efficiency or profit. IBM sees potential applications for SPSS tools in helping financial services companies retain customers, preventing crime and picking the optimal site for a new store or factory.
IBM is intent on expanding its business analytics capabilities. In May it acquired data discovery technology from Exeros for an undisclosed sum, and in January last year it paid $5 billion for business intelligence software developer Cognos.
IBM will continue to support and enhance the SPSS products as part of its Information Management software portfolio after the deal closes, it said. The companies expect to close the deal by the end of the year, subject to approval from regulators and SPSS shareholders.
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