TIBCO Software#Post-IPO

{{Infobox company

| name = TIBCO Software Inc.

| logo = 180px

| image =

| image_caption =

| type = Subsidiary

| traded_as = {{NASDAQ was|TIBX}}

| foundation = {{start date and age|1997}}

| founders = Vivek Ranadivé

| location = Stanford Research Park
Palo Alto, California, U.S.

| revenue =

| industry = Software

| products = {{nowrap|Business intelligence tools
Data visualization tools
Analytics tools
Big data tools}}

| homepage = {{URL|https://www.tibco.com}}

| parent = Cloud Software Group

| num_employees =

| key_people = {{ubl|Tom Krause (CEO)|Vivek Ranadivé (Board Member)|Tom Berquist (CFO)}}

}}

File:Image TIBCO booth AWSre-invent2018.jpg

TIBCO Software Inc. is a business unit of Cloud Software Group that provides enterprise software. It has headquarters in Palo Alto and offices in North America, Europe, Asia, the Middle East, Africa and South America.{{cite news

| author = Moore, Connie

| date = February 2006

| title = The Forrester Wave: Human-Centric Business Process Management Suites, Q1 200

}}

History

TIBCO (The Information Bus Company) was founded in 1997 by Vivek Ranadivé as a subsidiary of Reuters Holdings.{{cite news |last1=Levine |first1=Barry |title=Tibco goes private for $4.3 billion |url=https://venturebeat.com/entrepreneur/tibco-goes-private-for-4-3-billion/ |access-date=March 20, 2023 |work=VentureBeat |date=September 29, 2014}} Ranadivé originally developed the information bus software at his previous company, Teknekron Software Systems, which he sold to Reuters for $125{{nbsp}}million in 1994.{{cite magazine |title=This Man Wants to Make the NBA a Social Network — And Take It Global |last1=Riches |first1=Sam |url=https://www.wired.com/2013/12/vivek-ranadive-sacramento-kings/ |magazine=Wired |date=December 26, 2013 |access-date=April 26, 2023}} TIBCO's software allowed companies to receive and respond to information in real time.{{cite news |last1=Roush |first1=Wade |date=October 28, 2010 |url=http://www.xconomy.com/san-francisco/2010/10/28/the-two-second-advantage-talking-with-tibcos-vivek-ranadive/ |title=The Second Advantage: Talking with TIBCO's Vivek Ranadivé |work=Xconomy |access-date=July 19, 2013 |archive-url=https://web.archive.org/web/20210621092232/https://xconomy.com/san-francisco/2010/10/28/the-two-second-advantage-talking-with-tibcos-vivek-ranadive/ |archive-date= June 21, 2021}} Later in 1997, the company became one of 13 to partner with Microsoft in the development of push technology.{{cite news |last1=Swartz |first1=Jon |title=Big Boys Pushing Into Hot Technology / Microsoft, Netscape enter the fray |url=https://www.sfgate.com/business/article/Big-Boys-Pushing-Into-Hot-Technology-Microsoft-2838696.php |access-date=March 20, 2023 |work=SFGATE |date=May 22, 1997}} Its software products which primarily served the financial sector helping automation of financial transactions processing during the company's early beginnings, had evolved to be used in energy, semiconductor manufacturing, and other industries, by 1999.{{cite news |last=Wingfield |first=Nick |date=March 18, 1999 |title=Tibco Software 'Pushes' Wares Beyond Its Wall Street Roots |url=https://www.wsj.com/articles/SB921706082468320587 |work=The Wall Street Journal}} The company held an initial public offering (IPO) of stock on July 14, 1999. The company said it raised $109.5{{nbsp}}million from its IPO.{{cite news|title=Tibco Raises $109 Million |last1= |first1= |url=https://www.nytimes.com/1999/07/15/business/tibco-raises-109-million.html |work=The New York Times |date=July 15, 1999 |access-date=March 20, 2023}}

In 2000, Yahoo! introduced Corporate Yahoo, a platform developed with TIBCO Software that allowed companies to bundle services including email, calendars, and news into enterprise portals. The company partnered with Hewlett-Packard, WebEx, and Citrix Systems on its development.{{cite news |title=Tapping into the need for speed |last1=Levermore-Rich |first1=Adam |url=https://www.paloaltoonline.com/weekly/morgue/2001/2001_06_27.tibco13.html |date=June 27, 2001 |access-date=March 20, 2023 |work=Palo Alto Weekly }}{{cite news |title=Daily Briefing: Yahoo to introduce corporate product |date=June 27, 2000 |work=The Atlanta Journal-Constitution}} The company survived the dot-com bubble burst and was listed among USA Today's e-Consumer and e-Business index of 50 technology companies that remained relevant in 2001 following the boom.Krantz, Matt (January 3, 2002). [https://www.usatoday.com/life/cyber/invest/2002/01/03/internet-50-survivors.htm "Internet 50 Survivors Rise from Dot-Com Debris"]. USA Today. Retrieved July 20, 2013. By the spring of 2001, TIBCO had a market capitalization of $2 billion.{{cite news |last1=Anders |first1=George |author1-link=George Anders |title=Why " Real-Time" Business Takes Real Time |url=https://www.fastcompany.com/43359/why-real-time-business-takes-real-time |access-date=March 20, 2023 |work=Fast Company |date=June 30, 2001}}

By 2011, the company's annual revenues had grown to $920{{nbsp}}million, its customer base to 4,000, and its number of employees to 2,500.{{cite web |last1=Ciaccia |first1=Chris |url=http://www.thestreet.com/story/11353838/1/tibco-tops-wall-street-profit-view-by-nearly-20.html |title=Tibco Tops Wall Street Profit View by Nearly 20%. |website=TheStreet |publisher=Arena Group |access-date=March 20, 2023 |date=December 21, 2011 }}{{cite web |last1=Abramson |first1=Ronna |date=March 18, 2004 |url=http://www.thestreet.com/tech/ronnaabramson/10149368.html |title=Tibco CEO Sets Big Goals |website=TheStreet |publisher=Arena Group |access-date=March 20, 2023}}{{cite news |last1=McCracken |first1=Jeffrey |date=January 25, 2012 |url=https://www.bloomberg.com/news/2012-01-25/tibco-to-hire-rapidly-as-economy-improves-ceo-ranadive-says.html |title=Tibco to Hire Rapidly as Economy Improves, CEO Ranadive Says |work=Bloomberg News |access-date=March 20, 2023}} TIBCO was acquired by Vista Equity Partners for $4.2{{nbsp}}billion in December 2014. Murray Rode replaced Ranadivé as chief executive officer (CEO) following the acquisition.{{cite news |last1=Clancy |first1=Heather |title=Exit Interview: What's next for Tibco founder Vivek Ranadivé? |url=https://fortune.com/2014/12/22/tibco-vivek-ranadive/ |access-date=March 20, 2023 |work=Fortune |date=December 22, 2014 |language=en}} In 2019, Rode became vice chairman of the company and Dan Streetman succeeded him as CEO.{{Cite press release|url=https://www.tibco.com/press-releases/2019/tibco-names-dan-streetman-chief-executive-officer-murray-rode-vice-chairman|title=TIBCO Names Dan Streetman as Chief Executive Officer, Murray Rode as Vice Chairman |date=April 10, 2019 |website=TIBCO}}{{cite web |url=https://www.spglobal.com/marketintelligence/en/news-insights/trending/vDJP46IxggsPofXe7_gOYQ2 |title=Former BMC Software exec joins TIBCO as CEO |date=April 10, 2019 |website=S&P Global |first=Ikrama Majeed |last=Ranjha}}

TIBCO acquired data and analytics company Information Builders for an undisclosed sum in January 2021.{{cite news |last1=Vizard |first1=Michael |title=TIBCO closes its acquisition of IBI to advance data analytics |url=https://venturebeat.com/business/tibco-closes-its-acquisition-of-ibi-to-advance-data-analytics/ |access-date=March 20, 2023 |work=VentureBeat |date=January 6, 2021}} In September 2022, Vista and Elliott Investment Management acquired Florida-based Citrix Systems for $16.5{{nbsp}}billion and merged the company with TIBCO, forming Cloud Software Group.{{Cite web |date=2023-06-15 |title=Cloud Software Group explained, with TIBCO and Citrix still very much in enterprise line of sight |url=https://diginomica.com/cloud-software-group-explained-tibco-and-citrix-still-very-much-enterprise-line-sight |access-date=2024-01-09 |website=diginomica.com |language=en}} Tom Krause was named CEO of the new company.{{cite news |last1=Millward |first1=Wade Tyler |title=Citrix-Tibco Close $17B Deal, Uniting Virtualization And Enterprise Apps Vendors |url=https://www.crn.com/news/cloud/citrix-tibco-close-17b-deal-uniting-virtualization-and-enterprise-apps-vendors |access-date=March 20, 2023 |work=CRN |date=September 30, 2022 |language=en}}

Products

TIBCO Software provides enterprise application integration, data integration, messaging, event processing, data virtualization, master data management, API management, and business process automation capabilities.{{cite news |title=Tibco scales data analytics and visualization with an eye on AI |last1=Kerner |first1=Sean Michael |url=https://venturebeat.com/ai/tibco-scales-data-analytics-and-visualization-with-an-eye-on-ai/ |work=VentureBeat |date=March 14, 2023 |accessdate=April 13, 2023}}

Acquisitions

The company has made several acquisitions. In 2007, it acquired Spotfire, a business intelligence software company.{{cite news |title=Tibco to buy business intelligence software co., Spotfire, for $195M |last1=Marshall |first1=Matt |url=https://venturebeat.com/business/tibco-to-buy-business-intelligence-software-co-spotfire-for-195m/ |work=VentureBeat |date=May 2, 2007 |accessdate=June 21, 2023}} The company also acquired security management platform LogLogic,{{cite news |title=Tibco Buys LogLogic For $130M |last1=Savitz |first1=Eric |url=https://www.forbes.com/sites/ericsavitz/2012/04/13/tibco-buys-loglogic-for-130m/?sh=3a2632415a78 |work=Forbes |date=April 13, 2012 |accessdate=June 21, 2023}} business software provider JasperSoft,{{cite news |title=Tibco Pays About $185M to Acquire Jaspersoft |last1=Kell |first1=John |url=https://www.wsj.com/articles/DJFVW00020140428ea4st7sqq |work=The Wall Street Journal |date=April 28, 2014 |accessdate=June 21, 2023}} and streaming data analytics firm StreamBase Systems.{{cite news |title=Tibco acquires Streambase to bring real-time analytics tech to Wall Street |last1=Farr |first1=Christina |url=https://venturebeat.com/business/tibco-acquires-streambase-to-bring-real-time-analytics-tech-to-wall-street/ |work=VentureBeat |date=June 11, 2013 |accessdate=June 21, 2023}}

Other acquisitions include:

In 1997, it acquired inCommon, a push software company.{{Cite web|url=https://www.thefreelibrary.com/TIBCO+Acquires+inCommon;+Content+Delivery+and+Management+Technology...-a020157872|title=TIBCO Acquires inCommon; Content Delivery and Management Technology to be Integrated Into TIBCO's Information Bus Products. - Free Online Library|website=www.thefreelibrary.com}}
In 1999, it acquired InConcert, a telecommunication workflow company.{{Cite news |date=October 1, 1999 |title=Tibco Buying Xerox's Inconcert Unit for $34 Million |url=https://www.nytimes.com/1999/10/01/business/company-news-tibco-buying-xerox-s-inconcert-unit-for-34-million.html |work=NY Times}}
In 2000, it acquired Extensibility, an XML technology company.{{Cite web |last=NewsShark |date=2000-08-03 |title=Tibco Announces Acquisition of Extensibility |url=https://gilbane.com/2000/08/tibco-announces-acquisition-of-extensibility/ |access-date=2025-01-02 |website=The Gilbane Advisor |language=en-US}}
In 2009, it acquired DataSynapse, a cloud computing infrastructure company.[https://www.informationweek.com/software-services/tibco-acquires-datasynapse-for-28-million]
On March 25, 2010, the company acquired Netrics, a privately held provider of enterprise data matching software products.{{Cite web |date=31 March 2010 |title=TIBCO Software acquires Netrics |url=https://idm.net.au/article/007726-tibco-software-acquires-netrics |access-date=15 January 2024 |website=idm}}
On April 20, 2010, it acquired Kabira Technologies Inc., a privately held provider of in-memory transaction-processing software.[http://www.faqs.org/sec-filings/100709/TIBCO-SOFTWARE-INC_10-Q/ "TIBCO Software SEC Filing 10Q"].
On September 16, 2010, the company acquired Proginet (file transfer).{{Cite press release | url=https://www.reuters.com/article/idUS115266+16-Sep-2010+MW20100916 | archive-url=https://web.archive.org/web/20190623234706/https://www.reuters.com/article/idUS115266%2B16-Sep-2010%2BMW20100916 | url-status=dead | archive-date=June 23, 2019 | title=TIBCO Completes Acquisition of Proginet Corporation | via=Reuters | date=September 16, 2010}}
On September 23, 2010, it acquired OpenSpirit, a provider of data and application integration for exploration and production of oil and gas.{{Cite web |title=Tibco Software acquires OpenSpirit |url=https://www.bizjournals.com/sanjose/stories/2010/09/20/daily80.html |access-date=2024-01-15 |website=www.bizjournals.com}}
On December 8, 2010, the company acquired Loyalty Lab Inc., a privately held independent provider of loyalty management software.{{Cite web |url=http://www.tibco.com/company/news/releases/2010/press1072.jsp |title=TIBCO Software Acquires Loyalty Lab |access-date=December 5, 2013 |archive-url=https://web.archive.org/web/20131220095342/http://www.tibco.com/company/news/releases/2010/press1072.jsp |archive-date=December 20, 2013 |url-status=dead |df=mdy-all }}
On August 30, 2011, it acquired Nimbus, a UK-headquartered provider of business process discovery and analysis applications.{{Cite web |url=http://www.tibco.com/company/news/releases/2011/press1118.jsp |title=TIBCO Software Acquires Nimbus Partners |access-date=December 5, 2013 |archive-url=https://web.archive.org/web/20131026190958/http://www.tibco.com/company/news/releases/2011/press1118.jsp |archive-date=October 26, 2013 |url-status=dead |df=mdy-all }}
On March 25, 2013, it acquired Maporama Solutions, a privately held provider of location intelligence and geospatial analytics solutions.[http://www.tibco.com/company/news/releases/2013/press1250.jsp "TIBCO Software Acquires Maporama Solutions"] {{Webarchive|url=https://web.archive.org/web/20140714172510/http://www.tibco.com/company/news/releases/2013/press1250.jsp |date=July 14, 2014 }}. TIBCO Software.
On September 18, 2013, it acquired Extended Results, a privately held provider of mobile business intelligence software.[http://www.tibco.com/company/news/releases/2013/press1291.jsp "TIBCO Software Acquires Extended Results"] {{Webarchive|url=https://web.archive.org/web/20140604194751/http://www.tibco.com/company/news/releases/2013/press1291.jsp |date=June 4, 2014 }}. TIBCO Software.
On August 25, 2015, it announced the acquisition of San Francisco-based Mashery, an API management solution from Intel.{{Cite web|url=https://www.tibco.com/press-releases/2015/tibco-software-acquire-api-management-leader-mashery|title=TIBCO Software to Acquire API Management Leader Mashery|website=TIBCO Software Inc.}}
On May 15, 2017, it announced the acquisition of Statistica, a data science platform provider.{{Cite web|url=https://www.tibco.com/press-releases/2017/tibco-software-acquire-data-science-platform-leader-statistica|title=TIBCO Software to Acquire Data Science Platform Leader Statistica {{!}} TIBCO Software|website=www.tibco.com|language=en|access-date=2017-05-18}}
On July 6, 2017, it announced the acquisition of Virginia-based nanoscale.io, a microservices development platform.{{Cite web|url=https://www.tibco.com/press-releases/2017/tibco-bolsters-microservices-leadership-nanoscaleio-acquisition|title=TIBCO Bolsters Microservices Leadership with nanoscale.io Acquisition|website=TIBCO Software Inc.}}
On October 5, 2017, it announced the acquisition of Cisco's Data Virtualization business (formerly Composite Software).
In November 2017 it acquired Alpine Data Labs.{{Cite web |date=2017-11-16 |title=TIBCO Acquires Alpine Data to Bolster Data Science Technology |url=https://www.dbta.com/Editorial/News-Flashes/TIBCO-Acquires-Alpine-Data-to-Bolster-Data-Science-Technology-121766.aspx |access-date=2024-01-15 |website=Database Trends and Applications |language=en-US}}
On June 6, 2018, it announced the acquisition of integration platform-as-a-service leader Scribe Software.{{Cite web |date=2018-06-07 |title=TIBCO Buys Scribe Software to Expand Integration Products - CDP Institute |url=https://www.cdpinstitute.org/news/tibco-buys-scribe-software-to-expand-integration-products/ |access-date=2025-01-02 |language=en}}
On December 4, 2018, it announced the acquisition of Paris-based Orchestra Networks, a Master Data Management leader.{{Cite news |date=December 4, 2018 |title=TIBCO to buy data management firm Orchestra Networks: sources |url=https://www.reuters.com/article/technology/tibco-to-buy-data-management-firm-orchestra-networks-sources-idUSKBN1O30EG/ |work=reuters.com}}{{Cite web |title=Tibco's Orchestra acquisition will mean 'faster IT integration' {{!}} Computer Weekly |url=https://www.computerweekly.com/news/252454163/Tibcos-Orchestra-acquisition-will-mean-faster-IT-integration |access-date=2025-01-02 |website=ComputerWeekly.com |language=en}}
On March 7, 2019, it announced the acquisition of start-up SnappyData, a high-performance in-memory data platform.{{Cite web |last=Walsh |first=Sue |date=2019-04-11 |title=TIBCO Snaps Up SnappyData Data Platform |url=https://www.rtinsights.com/tibco-snaps-up-snappydata-data-platform/ |access-date=2025-01-02 |website=RTInsights |language=en-US}}