Last week, Amazon acquired online shoe store, Zappos, for roughly $900 million. This week, IBM and Sprint decided where to invest some spare change.
IBM Shells Out $1.2 Billion for SPSS
Today, IBM announced its plans to acquire SPSS for $1.2 billion ($50 a share) – a buy that IBM explains will strengthen its Information Agenda initiative, which “helps companies turn information into a strategic asset”.
SPSS, a Chicago-based analytics software specialist, will provide IBM with tools for reducing credit risk, increasing customer loyalty, and detecting and preventing fraud across diverse industries. Financial firms, telecommunications companies, government agencies, and educational institutions have used SPSS software to predict customer behavior and mine historical business data to identify future trends.
IBM also acquired Ounce Labs, a provider of enterprise security testing, today for an undisclosed amount.
Virgin Mobile USA Acquired by Sprint Nextel
Looking to strengthen its prepaid business in the wireless market with an “Iconic Consumer Brand” (as indicated by the title of its news release), Sprint Nextel announced that it will acquire Virgin Mobile for $483 million.
Sprint Nextel already owns 13.1 percent of Virgin Mobile and will keep the Virgin Mobile brand. The carrier also announced its plans to put Virgin Mobile CEO Dan Schulan in charge of its prepaid business when the deal closes in fall or early 2010.
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