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Sep. 29, 2014, 12:49 PM
Sep. 29, 2014, 9:16 AM
Sep. 29, 2014, 7:42 AM
- Tibco (NASDAQ:TIBX) owners will receive $24 per share in cash, or roughly a 26% premium to the price a few days back before it was reported a number of P-E firms were bidding for the company. Tibco closed at $19.51 on Friday.
- The deal is expected to close in Q4.
- Source: Press Release
- Previously: Tibco flies higher on reported P-E interest
Sep. 24, 2014, 3:37 PM
- Private equity firms Vista and Thoma Bravo are reportedly vying to buy Tibco Software (TIBX +7.6%)
- Previously: Tibco +6% AH; strategic review officially launched
Sep. 18, 2014, 6:45 PM
- Tibco (NASDAQ:TIBX) guided on its FQ3 CC for FQ4 revenue of $290M-$305M and EPS of $0.18-$0.24, below a consensus of $313M and $0.32.
- The company blames its FQ3 miss on a shift to subscription licensing from up-front payments - Oracle has offered a similar excuse for its near-term issues - and weaker-than-expected European sales. At the same time, Tibco claims it saw "a solid sequential improvement" for sales of its Spotfire analytics/data visualization platform, which had slumped earlier this year.
- FQ3 software license revenue -20% Y/Y to $85.9M, with subscription revenue totaling $13.2M; service/maintenance revenue (driven by past deals) +4% to $169.6M.
- GAAP sales/marketing spend grew 11% to $93.2M, while R&D spend fell 3% to $41.9M.
- Tibco is just 15 days removed from officially launching a strategic review.
- FQ3 results, PR
Sep. 18, 2014, 5:36 PM
Sep. 18, 2014, 4:08 PM
Sep. 17, 2014, 5:35 PM
Sep. 10, 2014, 2:49 PM
- CEO Meg Whitman says Hewlett-Packard (HPQ +0.5%) is again in a position to consider takeover options, a near-record cash pile gives it the means to do a deal and the worst sales forecast among computer hardware peers provides the motivation, so Bloomberg begins speculating about possible targets.
- One possible candidate is cybersecurity firm Imperva (IMPV +8.2%), particularly in the wake if the hacking of J.P. Morgan, Home Depot and celebrities’ phones; “H-P could definitely buy them and it would make some sense," Sterne Agee's Robert Breza says.
- Teradata (TDC -1.7%) has more of an “old-school” approach to big-data management but H-P could use it as a platform to make other acquisitions and build out its own offerings, HighMark Capital's Todd Lowenstein says.
- Tibco Software (TIBX -0.1%) is now reviewing its strategic options, and Morningstar's Peter Wahlstrom thinks it could draw H-P's interest.
Sep. 4, 2014, 9:10 AM
Sep. 3, 2014, 5:35 PM
Sep. 3, 2014, 4:16 PM
- Tibco's (NASDAQ:TIBX) board has approved "a review of a variety of strategic and financial alternatives available to the Company through the formation of a Special Committee of independent directors."
- The WSJ reported in August the middleware/analytics software vendor is reaching out to potential buyers. Activist Praesidium Investment has suggested Tibco should put itself on the block.
- Separately, Tibco has announced its FQ3 report will arrive on Sep. 18.
Aug. 14, 2014, 1:30 PM
- Though Morgan Stanley's sum-of-the-parts analysis for Tibco (TIBX -1.5%) suggests "15-20% potential upside," the firm is staying on the sidelines given "execution challenges and low probability of an event," says analyst Keith Weiss, reiterating an Equal-Weight.
- Tibco jumped last week after the WSJ reported the company is reaching out to P-E firms and other potential buyers. The company recently amended its change-of-control and severance packages for execs to give them bigger payouts in the event of an acquisition.
Aug. 6, 2014, 2:26 PM
- Dow Jones reports Tibco (TIBX +5.8%) is reaching out to potential buyers. Shares have spiked in response.
- SAP was at one point rumored to be interested in the middleware/analytics software vendor, which has had a rough year to date. But SAP has since declared it's not looking to make a large acquisition.
- Activist investor Praesidium Investment disclosed a stake in Tibco in June, and said it would share its views on the company with "potential acquirers."
Jun. 19, 2014, 6:30 PM
- Tibco (TIBX) has followed up on its FQ2 report by announcing Todd Bradley, once the head of H-P's massive PC/printer unit, has been named president.
- Bradley was once an H-P CEO candidate. He left the IT giant earlier this year after getting reassigned by Meg Whitman last year.
- At Tibco, Bradley will "have global responsibility for the customer-facing functions of sales, marketing and professional services." He'll report to chairman/CEO Vivek Ranadive.
- Shares now -1.5% AH. FQ2 results, guidance
Jun. 19, 2014, 5:33 PM
- Tibco (TIBX) guides on its FQ2 CC for FQ3 revenue of $267M-$279M and EPS of $0.15-$0.19, largely below a consensus of $278.5M and $0.24.
- A relatively soft guide was expected following Tibco's June 3 FQ2 warning.
- License revenue (30% of total revenue, drives future services revenue) fell 7% Y/Y in FQ2. Tibco once more blames execution issues, and says it's "aggressively focusing on making strategic, operational and organizational changes to address our execution challenges."
- Tibco's nascent subscription business grew 63% Y/Y to $5.8M (2% of revenue). Services/maintenance revenue (67% of revenue, largely stems from past deals) rose 7%. Opex rose 6% to $159.3M.
- Tibco's numbers arrive a week after activist Praesidium Investment disclosed a 3.4% stake and called for changes.
- FQ2 results, PR
TIBCO Software Inc. provides infrastructure and business intelligence software. Its software platform enables customers to create flexible, event-driven applications and deliver real-time, actionable insights.
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