TIBCO Announces Agreement to Acquire Information Builders, Inc.
PALO ALTO, Calif., Oct. 23, 2020 -- TIBCO Software Inc., a data aggregation and analytics company, announced that it has entered into an agreement to acquire Information Builders, Inc. (ibi), a leading data and analytics software company. Its comprehensive set of data management and analytics capabilities will augment TIBCO’s Connected Intelligence platform to more deeply address customers’ end-to-end needs.
“Data-driven insight is more critical than ever. With the acquisition of ibi, we gain access to a broader set of analytics and technology, greatly enhancing our ability to help the world’s leading organizations solve their most complex data problems,” said Dan Streetman, chief executive officer, TIBCO. “The blend of our two companies, with strong and complementary capabilities, will further unlock the potential of real-time data for making faster, smarter decisions.”
ibi helps organizations manage complex and disconnected data so they can build, embed, and automate intelligence in everything they do. With a shared focus on customer excellence and innovation, TIBCO and ibi will partner with customers to transform their business and drive sustainable innovation.
ibi’s leading data quality, preparation, and integration products will support the TIBCO Any Data Hub and Responsive Application Mesh strategies. In addition, TIBCO’s Hyperconverged Analytics strategy will be enriched with the infusion of ibi’s leading analytics solution, WebFOCUS.
“Bigger data challenges create the need for more robust data solutions,” said Frank J. Vella, chief executive officer, ibi. “Joining TIBCO will help our customers, who understand the impact of having strategic, data-driven solutions, accelerate their response to their most pressing data opportunities.”
Millions of people worldwide use ibi-powered software every day across the Healthcare, Financial Services, Public Sector, Manufacturing, Transportation and Logistics, and Retail industries. ibi solutions have received more than 40 awards for Outstanding Customer Service and Support, including ones for a Cloud BI and Technology Innovation.
“We founded Information Builders with a vision of a new business intelligence product that would enable non-programmers to build their own reporting applications,” said Gerald D. Cohen, founder and chairman of the board, ibi. “We are proud of what ibi has accomplished in over four decades of innovation, and it is a privilege to join forces with a company that cares about its customers as much as we do. I am looking forward to a very bright future for our solutions, our team, and especially our customers.”
The transaction remains subject to customary conditions and certain regulatory approvals, and TIBCO expects the transaction to close during its first quarter of fiscal year 2021.
Kirkland & Ellis LLP served as legal advisor to TIBCO. Shea & Company LLC served as financial advisor to ibi and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to ibi.
To learn more, visit TIBCO and ibi.
About TIBCO
TIBCO Software Inc. unlocks the potential of real-time data for making faster, smarter decisions. Our Connected Intelligence Platform seamlessly connects any application or data source; intelligently unifies data for greater access, trust, and control; and confidently predicts outcomes in real time and at scale. Learn how solutions to our customers’ most critical business challenges are made possible by TIBCO at www.tibco.com.
About ibi
ibi is a data and analytics company that embeds intelligence into ― everything. From the beginning, ibi has known the importance of data and insights to make better decisions. We help organizations get their complex and disconnected data in order, so they can build, embed and automate intelligence in everything they do. By preparing organizations for the future and turning them into builders ― information builders, everyone can use enterprise-trusted data at scale to drive their growth. Whether our customers use pre-built applications or build their own solutions for their data and analytics challenges, ibi powers their innovation and reinvention. ibi’s open platform and industry-specific building blocks accelerate speed-to-market, improve operational efficiency, and enhance their customers’ experience.
Source: TIBCO Software Inc.
