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Business Briefing / Computers

IBM to acquire software firm

July 29, 2009|Times Staff and Wire Reports

IBM Corp. is bulking up its most profitable division with a $1.2-billion acquisition of business software provider SPSS Inc.

The all-cash deal represents a 42% premium over Chicago-based SPSS' Monday closing price of $35.09.

SPSS' technology is used to comb through data to predict things such as how a customer will respond to a particular sales pitch, or where police should be deployed.

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