TIBCO Software recently announced that it has signed a definitive agreement to acquire Spotfire a privately held software company and a provider in next-generation business intelligence (BI) software, in an all-cash transaction valued at approximately $195 million.

 “Our customers are constantly seeking a sustainable and systemic information advantage,” said Vivek Ranadivé, Chairman and CEO, TIBCO. “The combination of Spotfire’s next generation BI capabilities with TIBCO’s real-time infrastructure will successfully transform the way customers can interact with data to offer a complete and contextual picture for making truly informed decisions. Until today, no one has been able to deliver this type of joint offering.”
 
The acquisition is expected to close in Q3 of fiscal 2007 and is subject to regulatory approvals and other customary closing conditions. Upon completion of the acquisition, TIBCO plans to retain the Spotfire brand and operate Spotfire as a business unit within TIBCO.

This BeyeNETWORK news item contains information from a recent press release by the company mentioned.