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.
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.”