29 September, 2014
Tibco Goes Private For $4.3 Billion
Tibco Software announced today that equity firm Vista Equity Partners will take it private for about $4.3 billion.
Shareholders will receive $24 a share in cash, and the deal, which the shareholders must approve, includes the assumption of net debt.
The Palo Alto, Calif.-based company said its board of directors unanimously approved the sale after a “thorough review of strategic and financial alternatives.”
“As a private company, Tibco will have added flexibility to serve our customers and execute on our long-term strategy,” chairman/CEO and founder Vivek Ranadivé said in a statement.