Business-intelligence software vendor SPSS Inc. disclosed today that it has acquired Vento Software Inc., a Miami developer of performance-management applications for the telecommunications, health-care, banking, and retail industries. The acquisition provides SPSS with its first vertical-market analytical software.
SPSS issued approximately 550,000 shares of its common stock to buy Vento, which puts the value of the deal between $11 million and $12 million. CFO Edward Hamburg says the acquisition was negotiated earlier this fall and concluded Monday. All of Vento's 31 employees will become SPSS employees, an SPSS spokesman says. Vento is expected to generate about $2 million in sales in calendar 1999.
Vento's flagship product, VentoMap, transforms operational data into key business performance indicators. SPSS plans to integrate its own analytical software, including data mining and online analytical processing tools, with Vento's applications.