International Business Machines Corp. (IBM) said that it has completed its acquisition of predictive analytics software and solutions provider SPSS Inc. (SPSS).
Under the deal, which was signed in July, IBM agreed to acquire SPSS in an all cash transaction of $50 per share. The total cash consideration in the merger would be about $1.2 billion.
Following the close of the acquisition, SPSS will be integrated into IBM's Information Management software portfolio and the many industry offerings already available.
According to the companies, the acquisition is expected to further expand IBM's Information on Demand, or IOD, software portfolio and business analytics capabilities, including the range of offerings available through IBM's recently-announced Business Analytics and Optimization Consulting organization and network of Analytics Solution Centers.
The acquisition is also expected to strengthen IBM's Information Agenda initiative, which helps companies turn information into a strategic asset.
Further, the acquisition of SPSS will add advanced analytic capabilities to IBM's IOD software portfolio, including customer acquisition and retention for financial services, patient care improvement for the healthcare industry, crime prevention for public sector and ideal store location for retailers and manufacturers.
In addition, software capabilities that address all industries will include demand forecasting, employee hiring and retention, customer profitability, credit scoring and fraud detection. All of these new offerings will help clients drive better business outcomes within their specific industries.
Additionally, the predictive analytics technology can be used to help reduce credit risk, increase customer loyalty and detect and prevent fraud. With the combined SPSS technology and IBM software and consulting capabilities, clients will be able to identify which customers to target, how to reach them, when to make contact and the most appropriate action to take, the companies noted.
Predictive analytics will also be an essential component of the smarter business systems that IBM is helping companies and organizations build to help confront the complex challenges presented by the exponential growth of data.
IBM closed Friday's regular trading session at $119.02, up $1.12. However, in the after-hours, the shares lost 8 cents. SPSS ended Friday's regular trading session at $49.99, up 2 cents. In the after-hours, the shares further gained 1 cent.
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