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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, 5:36 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. 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, 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
Jun. 11, 2014, 5:36 PM
Jun. 11, 2014, 5:15 PM
- In an open letter to Tibco's (TIBX) board, Praesidium Investment discloses a 5.5M-share (3.4%) stake, declares Tibco to be "falling far short of its significant potential," and says it will continue to "actively engage the Board and assist it in exploring value-enhancing ideas."
- Notably, Praesidium lists "potential acquirers" among the groups it plans to share its Tibco views with going forward.
- Tibco is only 8 days removed from issuing an FQ2 warning blamed on weak Spotfire sales. SAP was previously rumored to be a potential acquirer, but the company has since said it's not currently looking to make a big acquisition.
Jun. 4, 2014, 9:13 AM
Jun. 3, 2014, 5:40 PM
Jun. 3, 2014, 4:44 PM
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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