Tibco software, the business intelligence, data analytics and infrastructure company, is being taken private in a leveraged buyout by Vista Equity at $4.3 billion or $24 a share. This looks like a premium to where it has been trading recently at $19.51 but is much lower than its historic high of $34. The stock has been sliding the past couple of years because of competition from larger players like IBM and Oracle and smaller peers like Tableau.
Feeling that growth had peaked, management consulted with Goldman Sachs on its next move, and Tibco shareholders overwhelmingly approved of the Vista buyout.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at email@example.com.
Tibco CEO Vivek Ranadive told Investors.com, “We believe this transaction strongly positions Tibco to execute on our vision for providing the right information, at the right time, in the right context, to make the world a better place.”