In a move to broaden its predictive analytics applications with the addition of innovative text mining software, SPSS Inc. is acquiring LexiQuest Inc., which develops linguistics-based information management software.
The acquisition combines LexiQuest's expertise in linguistics-based text mining and SPSS data mining capabilities.
"We live in a text-rich environment," said SPSS CEO Jack Noonan"Estimates suggest that more than 80 percent of the information available today exists in some type of text format whether it is reports, e-mail messages, research documents or other text-rich information sources.
LexiQuest has expertise in computational linguistics and Natural Language Processing (NLP), two technologies which are fundamental to text mining. NLP analyzes everyday human language to understand the meaning of each word, sentence structure and overall concepts. Current LexiQuest customers are in text-intensive markets such as pharmaceutical, finance, government, information technology and law.
LexiQuest's customers include Bristol-Myers Squibb, General Electric and Banque de France.
Terms of the deal weren't released
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