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Wednesday, September 3, 2014

Tibco Software reviews strategic, financial alternatives, (NASDAQ: TIBX)

Business software maker Tibco Software Inc said it is reviewing its strategic and financial alternatives as part of a process initiated by its board on Aug. 16 to maximize shareholder value. Tibco has formed a special committee of independent directors to undertake the review.The company said it had retained Wilson Sonsini Goodrich & Rosati and Goldman, Sachs & Co to assist in the process.Tibco has been approaching potential suitors, including private equity firms, Wall Street Journal reported on Aug. 6, citing people familiar with the matter. (Reporting By Subrat Patnaik; Editing by Simon Jennings)

TIBCO Software Inc. (TIBCO) is a provider of middleware and infrastructure software. Shares of TIBX fell by 0.75% or $-0.16/share to $21.04. In the past year, the shares have traded as low as $18.20 and as high as $27.15. On average, 3042870 shares of TIBX exchange hands on a given day and today's volume is recorded at 2794045.