Vista Equity Partners acquires Tibco for $24 per share
Vista, which has $13.5 billion in cumulative capital commitments on software, data and technology-enabled companies, will pay stockholders $24-per-share in cash. The price is a 26.3 percent premium on Tibco's closing price of its common stock on September 23.
The deal, which still needs to be approved by regulators and by Tibco's stockholders, will be the largest technology buyout this year, according to Reuters. If approved, the transaction is expected to be finalized at the end of Q4.
"Over the course of Tibco's comprehensive review, the special committee and its advisors evaluated a wide variety of strategic and financial alternatives, including a sale of the company," says David West, a member of Tibco's board and special committee. "In reviewing the sale alternative, Tibco engaged in an extensive process involving a large and diverse group of strategic and financial buyers. Ultimately, the Board concluded that the sale...is the best way to maximize value for our shareholders."
Pending approval, Tibco will be the sixth public company Vista has taken private in the past three years.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Waters Wavelength Ep. 295: Vision57’s Steve Grob
Steve Grob joins the podcast to discuss all things interoperability, AI, and the future of the OMS.
S&P debuts GenAI ‘Document Intelligence’ for Capital IQ
The new tool provides summaries of lengthy text-based documents such as filings and earnings transcripts and allows users to query the documents with a ChatGPT-style interface.
The Waters Cooler: Are times really a-changin?
New thinking around buy-build? Changing tides in after-hours trading? Trump is back? Lots to get to.
A tech revolution in an old-school industry: FX
FX is in a state of transition, as asset managers and financial firms explore modernizing their operating processes. But manual processes persist. MillTechFX’s Eric Huttman makes the case for doubling down on new technology and embracing automation to increase operational efficiency in FX.
Waters Wavelength Ep. 294: Grasshopper’s James Leong
James Leong, CEO of Grasshopper, a proprietary trading firm based in Singapore, joins to discuss market reforms.
The Waters Cooler: Big Tech, big fines, big tunes
Amazon stumbles on genAI, Google gets fined more money than ever, and Eliot weighs in on the best James Bond film debate.
AI set to overhaul market data landscape by 2029, new study finds
A new report by Burton-Taylor says the intersection of advanced AI and market data has big implications for analytics, delivery, licensing, and more.
New Bloomberg study finds demand for election-related alt data
In a survey conducted with Coalition Greenwich, the data giant revealed a strong desire among asset managers, economists and analysts for more alternative data from the burgeoning prediction markets.
