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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 of the suitors vying for Tibco.Shares of Tibco rose 20.9 percent to $23.58 in morning trading.Tibco, following the likes of Compuware and BMC Software, is the latest 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 21.25% or $4.145/share to $23.66. 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 57560240.