Chicago, Ill., Nov. 30, 1999 Staking its claim in analytical applications, SPSS Inc. announced its purchase of Vento Software, Inc. The transaction, completed on Nov. 29, 1999, was executed as a pooling of interests in which SPSS issued approximately 550,000 shares of its common stock. Vento Software is a leader in providing business performance management solutions for business executives in the telecommunications, banking, health care and retail industries. SPSS, a leading data mining provider, has purchased Vento with the intention of integrating its own analytical components into Vento’s suite of vertical solutions.
"With this acquisition, SPSS can move quickly into vertical applications," said Jack Noonan, SPSS Inc. president and CEO. "Vento has significant domain expertise along with solid products and services that help people better understand their business. By incorporating these vertical best practices’ and data mining, organizations can extend traditional business intelligence solutions and get answers tailored to their specific business."
“Vento has achieved rapid growth and widespread industry recognition by delivering packaged business intelligence applications that provide business executives with critical information they need to compete and win,” said David Blyer, Vento president, CEO and co-founder. “By joining SPSS, a company that shares our strategy and vision, we can do even better by leveraging our respective strengths in business intelligence, data mining and CRM solutions worldwide. Together, we can be the leading provider of solutions in key vertical markets. We are very enthusiastic about the benefits to our customers, our partners and the marketplace at large.”
For more information, visit www.spss.com.
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