Mergers & Acquisition
TIBCO to Acquire Spotfire
Original Press Release
TIBCO to Acquire Spotfire
Press release date: May 1, 2007
Acquisition Complements Predictive Business Strategy; Combines Real-Time Infrastructure with Enterprise Analytics to Deliver Next-Generation Business Intelligence
TUCON(TM), SAN FRANCISCO, May 1 -- TIBCO Software Inc. (NASDAQ:TIBX) today announced that it has signed a definitive agreement to acquire Spotfire Inc., a rapidly growing, privately held software company headquartered in Somerville, Mass. and a leader in next-generation business intelligence (BI) software, in an all-cash transaction valued at approximately $195 million.
Today's announcement is the latest example of TIBCO's ongoing commitment to providing a complete, real time and event driven infrastructure that organizations need to compete in the 21st century. While a myriad of data management technologies, applications and interface standards are making information increasingly available today, the technically diverse environment where the data resides too often remains unresponsive and disconnected from business users across the enterprise. Most large IT vendors are overly invested in the status quo and only offer traditional BI architectures of dashboards, proprietary application stacks, and transactional process management. Uniting Spotfire's next generation BI capabilities with TIBCO's solutions for service-oriented architecture (SOA), business process management (BPM), and business optimization will transform the way business users interact with data.
"Our customers are constantly seeking a sustainable and systemic information advantage," said Vivek Ranadive, chairman and chief executive officer, TIBCO. "The combination of Spotfire's next generation BI capabilities with TIBCO's real-time infrastructure will successfully transform the way customers can interact with data to offer a complete and contextual picture for making truly informed decisions. Until today, no one has been able to deliver this type of joint offering."
"Today's front-line decision makers want not only unparalleled access to business-critical information, but also a broader, clearer view of how that data relates to processes," said Christopher Ahlberg, chief executive officer, Spotfire. "By bolstering our platform with TIBCO's real-time infrastructure, we can deliver a responsive and user-friendly environment for businesses to discover new insights, make better decisions and take action. This combination provides the information advantage that is a prerequisite to the competitive advantage that all our customers seek."
Spotfire provides an interactive, visual approach to data analysis that puts the power to ask and answer questions on demand directly into the hands of a wide range of business professionals. Unlike current first generation business intelligence systems, the Spotfire Enterprise Analytic platform is architected to deliver a radically faster experience and one that is infinitely more adaptable to multiple industries and business processes. The Spotfire Enterprise Analytics platform delivers the ability to ask and answer virtually unconstrained questions.
Spotfire has over 800 active customers including such global leaders as ABN AMRO, AMD, Boehringer Ingleheim, Chevron, Merck, Pfizer, Shell, Texas Instruments, Toshiba, Unilever, along with a variety of government agencies involved in both civilian and intelligence services. Spotfire also has a strong global sales force and solution partner network.
The acquisition is expected to close in Q3 of fiscal 2007 and is subject to regulatory approvals and other customary closing conditions. Upon completion of the acquisition, TIBCO plans to retain the Spotfire brand and operate Spotfire as a business unit within TIBCO, led by Christopher Ahlberg, Spotfire's CEO, that will focus on developing, selling and servicing Spotfire's products and solutions.
TIBCO chairman and CEO Vivek Ranadive, Spotfire CEO Christopher Ahlberg, and TIBCO executive vice president and chief financial officer Murray Rode will discuss the acquisition on a conference call for financial analysts, investors and the news media at 6:00 a.m. (PDT) / 9:00 a.m. (EDT) on Tuesday, May 1, 2007. Interested parties may participate live via a conference call by dialing (800) 262-1292 or (719) 457-2680. Please join the conference call at least 10 minutes early to register. A replay of the conference call will be available until midnight on May 31, 2007 at www.tibco.com or via dial-in at (888) 203-1112 or (719) 457-0820. The pass code for both the call and the replay is 4178693.
TIBCO Software Inc. (NASDAQ:TIBX) provides enterprise software that helps companies achieve service-oriented architecture (SOA) and business process management (BPM) success. With over 3,000 customers, TIBCO has given leading organizations around the world better awareness and agility -- what TIBCO calls The Power of Now®. To learn more, contact TIBCO at +1 650-846-1000 or on the Web at www.tibco.com.
Source: TIBCO Software Inc.
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Bill Bourdon of the Bateman Group, +1-415-602-1491, firstname.lastname@example.org, for TIBCO Software Inc.
Web site: http://www.tibco.com/