Accrue Software Buys Data Mining Specialist NeoVista

Accrue Software Inc., a maker of systems for harvesting and analyzing clickstream Web data, said it would acquire data mining vendor NeoVista Software Inc. to bolster its analytic capabilities.

The deal, expected to close in January, calls for Accrue to exchange 2.4 million shares of common stock for NeoVista, a privately held company with 45 employees in Cupertino, Calif.

Accrue shares have been trading above $50, which would make the deal worth $120 million. Accrue officials said the deal, announced late Wednesday, is based on a set stock price, which will not be disclosed until a public filing with the Securities and Exchange Commission in February.

NeoVista's data mining algorithms are designed to detect patterns in large data volumes. The technology will add a deeper analytic dimension to Accrue's Insight product, which runs atop leading relational databases.

"When you apply the analytics to the data we store, you can do a lot of interesting things," said Vito Salvaggio, vice president of marketing at Accrue in Fremont, Calif. "Customers will be better able to understand their e-businesses and improve their Web site effectiveness."

For more information on Accrue, visit http://www.accrue.com.

For more information on NeoVista, visit http://www.neovista.com.