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Monday, September 29, 2014

Vista Equity to purchase Tibco Software for $4.3 bln, (NASDAQ: TIBX)

Business software maker Tibco Software Inc said takeover firm Vista Equity Partners had agreed to take it private for $4.3 billion. Vista will pay $24 per share in cash for Tibco, representing a 26 percent premium to the stock's closing price on Sept. 23, a day before Reuters first reported that Vista was one the firms vying for Tibco. Tibco shares closed at $19.51 on Friday.

TIBCO Software Inc. (TIBCO) is a provider of middleware and infrastructure software. Shares of TIBX traded higher by 0.67% or $0.13/share to $19.51. In the past year, the shares have traded as low as $18.20 and as high as $26.90. On average, 3040250 shares of TIBX exchange hands on a given day and today's volume is recorded at 2503168.