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.[1]
TIBCO (The Information Bus Company) was founded in 1997 by Vivek Ranadivé as a subsidiary of Reuters Holdings.[2] Ranadivé originally developed the information bus software at his previous company, Teknekron Software Systems, which he sold to Reuters for $125million in 1994.[3] TIBCO's software allowed companies to receive and respond to information in real time.[4] Later in 1997, the company became one of 13 to partner with Microsoft in the development of push technology.[5] Its software products which primarily served the financial sector helping automate Wall Street's trading floors during the company's early beginnings, had evolved to be used in energy, semiconductor manufacturing, and other industries, by 1999.[6][3] The company held an initial public offering (IPO) of stock on July 14, 1999. The company said it raised $109.5million from its IPO.[7]
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.[8][9] 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.[10] By the spring of 2001, TIBCO had a market capitalization of $2 billion.[11]
By 2011, the company's annual revenues had grown to $920million, its customer base to 4,000, and its number of employees to 2,500.[12][13][14] TIBCO was acquired by Vista Equity Partners for $4.2billion in December 2014. Murray Rode replaced Ranadivé as chief executive officer (CEO) following the acquisition.[15] In 2019, Rode became vice chairman of the company and Dan Streetman succeeded him as CEO.[16][17]
TIBCO acquired data and analytics company Information Builders for an undisclosed sum in January 2021.[18] In September 2022, Vista and Elliott Investment Management acquired Florida-based Citrix Systems for $16.5billion and merged the company with TIBCO, forming Cloud Software Group.[19] Tom Krause was named CEO of the new company.[20]
^Moore, Connie (February 2006). "The Forrester Wave: Human-Centric Business Process Management Suites, Q1 200".
^Levine, Barry (September 29, 2014). "Tibco goes private for $4.3 billion". VentureBeat. Retrieved March 20, 2023.
^ abRiches, Sam (December 26, 2013). "This Man Wants to Make the NBA a Social Network — And Take It Global". Wired. Retrieved April 26, 2023.
^Roush, Wade (October 28, 2010). "The Second Advantage: Talking with TIBCO's Vivek Ranadivé". Xconomy. Archived from the original on June 21, 2021. Retrieved July 19, 2013.
^Swartz, Jon (May 22, 1997). "Big Boys Pushing Into Hot Technology / Microsoft, Netscape enter the fray". SFGATE. Retrieved March 20, 2023.
^Wingfield, Nick (March 18, 1999). "Tibco Software 'Pushes' Wares Beyond Its Wall Street Roots". The Wall Street Journal.
^"Tibco Raises $109 Million". The New York Times. July 15, 1999. Retrieved March 20, 2023.
^Levermore-Rich, Adam (June 27, 2001). "Tapping into the need for speed". Palo Alto Weekly. Retrieved March 20, 2023.
^Vizard, Michael (January 6, 2021). "TIBCO closes its acquisition of IBI to advance data analytics". VentureBeat. Retrieved March 20, 2023.
^"Cloud Software Group explained, with TIBCO and Citrix still very much in enterprise line of sight". diginomica.com. June 15, 2023. Retrieved January 9, 2024.
^Millward, Wade Tyler (September 30, 2022). "Citrix-Tibco Close $17B Deal, Uniting Virtualization And Enterprise Apps Vendors". CRN. Retrieved March 20, 2023.
^Kerner, Sean Michael (March 14, 2023). "Tibco scales data analytics and visualization with an eye on AI". VentureBeat. Retrieved April 13, 2023.
^Marshall, Matt (May 2, 2007). "Tibco to buy business intelligence software co., Spotfire, for $195M". VentureBeat. Retrieved June 21, 2023.
^Savitz, Eric (April 13, 2012). "Tibco Buys LogLogic For $130M". Forbes. Retrieved June 21, 2023.
^Kell, John (April 28, 2014). "Tibco Pays About $185M to Acquire Jaspersoft". The Wall Street Journal. Retrieved June 21, 2023.
^Farr, Christina (June 11, 2013). "Tibco acquires Streambase to bring real-time analytics tech to Wall Street". VentureBeat. Retrieved June 21, 2023.
^"TIBCO Acquires inCommon; Content Delivery and Management Technology to be Integrated Into TIBCO's Information Bus Products. - Free Online Library". www.thefreelibrary.com.
^"TIBCO Software Completes InConcert Acquisition". www.prnewswire.com. Archived from the original on April 13, 2016.
^"TIBCO Software Announces Acquisition of Extensibility, Inc". www.prnewswire.com. Archived from the original on April 13, 2016.
^"TIBCO Software acquires Netrics". idm. March 31, 2010. Retrieved January 15, 2024.