The two companies have signed a stock purchase agreement under which SPSS will acquire all outstanding DataDistilleries capital stock for an estimated $6.4 million.
The sum consists of $1 million in cash and 281,830 shares of SPSS common stock valued at $5.4 million. A further $4.1 million may be paid to DataDistilleries if it achieves certain performance levels. SPSS appears to be getting a good deal because DataDistilleries made revenue of $4.5 million over the last 12 months.
The European software house has been carving out a position for itself in the predictive analytics market, which is currently a key area of interest for SPSS, and has been concentrating on highly focused business-oriented applications such as real-time fraud-detection for the financial services industry.
DataDistilleries emerged from the Dutch National Research Center for Mathematics and Computer Science in 1985. Although it has blue-chip customers 90% of its business was carried out within the Netherlands.
Its applications will be sold by the SPSS sales force, which now also includes DataDistilleries sales people. SPSS will also enhance the products’ capabilities through its data and text mining, market research, and web and marketing analytics capabilities.
This article was based on material originally published by ComputerWire.
