SPSS board approves buying back up to $40 million convertibles

By Susanna Moon

Chicago, March 11 - SPSS Inc. said its board of directors authorized the company to repurchase up to $40 million of its issued and outstanding 2.5% convertible subordinated notes due 2012.

The authorization extends until Dec. 31, 2009.

SPSS said the repurchases are not mandatory and will be made from time to time based on the availability of alternative investment opportunities and market conditions.

The issuer is a Chicago-based developer of research analytics software.

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