Tibco jumps on Loeb report

|By:, SA News Editor

The Information reports Dan Loeb has been building up his Tibco (TIBX +5.8%) stake, and could make an activist push. Shares of the middleware/analytics software vendor have spiked higher in response.

Loeb owned 4.425M Tibco shares at the end of Q3, down from 5M at the end of Q2 and good for a 2.7% stake. SA Pro contributor Akram's Razor argued in September Loeb could push for a spinoff/IPO of Tibco's Business Optimization unit, which includes its Spotfire analytics platform.

After many quarters of strong growth, Spotfire saw a Y/Y license revenue decline in Tibco's November quarter (tough comps were blamed). That contrasts sharply with the 90% Y/Y revenue growth analytics rival Tableau saw in Q3.