TIBCO to Buy Spotfire for $195 MillionBy Darryl K. Taft | Posted 2007-05-01 Print
The acquisition targets Spotfire's next-generation BI software that provides an interactive, visual data analysis approach.TIBCO Software has announced an agreement to acquire Spotfire in a deal worth $195 million.
At TUCON (TIBCO User Conference) in San Francisco May 1, TIBCO unveiled its plans to acquire the privately held Somerville, Mass., company, which focuses on next-generation business intelligence software.
TIBCO officials said combining Spotfire's next-generation BI capabilities with TIBCO's offerings for SOA (service-oriented architecture), BPM (business process management) and business optimization will transform the way business users interact with data.
"Today's front-line decision makers want not only unparalleled access to business-critical information but also a broader, clearer view of how that data relates to processes," said Spotfire CEO Christopher Ahlberg in a statement. "By bolstering our platform with TIBCO's real-time infrastructure, we can deliver a responsive and user-friendly environment for businesses to discover new insights, make better decisions and take action. This combination provides the information advantage that is a prerequisite to the competitive advantage that all our customers seek."
Spotfire provides an interactive, visual approach to data analysis that puts the power to ask and answer questions on demand directly into the hands of a wide range of business professionals. Unlike current first-generation BI systems, Spotfire's Enterprise Analytic platform is designed to deliver a radically faster experience, according to the company.
Spotfire has more than 800 customers, including ABN AMRO, Advanced Micro Devices, Boehringer Ingelheim, Chevron, Merck, Pfizer, Shell, Texas Instruments, Toshiba and Unilever, along with a variety of government agencies involved in both civilian and intelligence services. Spotfire also has a global sales force and solution partner network.
The acquisition is expected to close in the third quarter of fiscal 2007.
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