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IBM to buy predictive analytics company SPSS

By Published on .

Armonk, N.Y.—International Business Machines Corp. will buy predictive analytics company SPSS Inc. for $1.2 billion in cash, acquiring in the process SPSS's software that helps companies analyze and forecast marketing and product trends.

With the acquisition, IBM, which has established itself in recent years largely as a services company, will boost its software business. According to market intelligence company International Data Corp., the worldwide market for analytics software will reach about $25 billion this year, up 4% over last year.

SPSS's Predictive Analytics Software Modeler Text Analytics 13 (previously named Text Mining for Clementine) leverages insights and sentiments in unstructured data, including call center notes, open-ended survey responses, blogs and wikis. The company also offers a product that features simplified data mining, automatically detecting and correcting quality errors, imputing missing values, and providing reports on which data to use.

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