SAS has acquired the technology offerings of Verbind Inc., Lexington, MA. The price of the transaction was not disclosed.
The purchase includes Verbind’s LifeTime software suite, which includes the Lifetime Retail Banking Customer Retention application and Lifetime Retail Banking Cross-sell application. The software will be incorporated into SAS Interaction Management, the company’s event-trigger-based marketing solution.
According to Nelle Schantz, global strategist and program director for CRM for SAS, many of Verbind’s research and development and professional services staff have been hired on a contract basis. SAS does not have immediate plans to incorporate Verbind’s physical operations into its Cary, NC headquarters.
The acquisition augments SAS’s offerings to the banking and insurance industries, which currently include a variety of business intelligence-based platforms, including a behavior-tracking module and modeling and collaborative filtering capabilities.
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