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Monday, September 29, 2014

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

Business software maker Tibco Software Inc on Monday said private equity firm Vista Equity Partners would take it private for $4.3 billion in the largest technology takeover this year.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 Vista was one the firms vying for Tibco. Tibco shares closed at $19.51 on Friday and rose more than 20 percent in premarket trading on Monday.Palo Alto, California-based Tibco develops software that companies use in real-time data analysis involved in processes such as inventory keeping and cross-selling products. Its board had been under pressure from activist investors to sell the company.The parties said they expected the deal, which is subject to approval from shareholders and regulators, to close in the fourth quarter.

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 8154409.