Business software maker Tibco Software Inc on Monday agreed to be bought by private equity firm Vista Equity Partners for $4.3 billion, the latest software company to go private after becoming a target for activist investors.Vista will pay $24 per share in cash for Tibco. That would be a 26 percent premium to the stock's closing price on Sept. 23, the day before Reuters reported that several private equity suitors, including Vista, were vying for Tibco.Shares of Tibco were up 21.4 percent at $23.68 in afternoon trading.Tibco, following the likes of Compuware and BMC Software, is the latest enterprise software company to go private. Its board had come under pressure from activist investors Praesidium Investment Management Co LLC and Starboard Value LP.
TIBCO Software Inc. (TIBCO) is a provider of middleware and infrastructure software. Shares of TIBX traded higher by 21.22% or $4.14/share to $23.65. 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 72827920.
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