IBM Purchases SPSS for $1.2 Billion

In major tech business news, IBM is in the process of acquiring software and solutions provider SPSS in an all-cash deal that will add up to around 1.2 billion dollars. IBM is offering $50 per share, a 42% premium over SPSS’ closing price of $35.09 yesterday on NASDAQ. The deal is still awaiting approval by SPSS shareholders and other formalities and is expected to clear later this year. In further news that might just make you yawn louder than you have in years, Big Blue has also acquired Ounce Labs, provider of enterprise source code security testing. [via TechCrunch]