ibi has a vast product portfolio and trusted data-driven solutions that central to customer digital transformation efforts.
Its comprehensive set of data management and analytics capabilities will augment TIBCO’s Connected Intelligence platform to more deeply address customers’ end-to-end needs.
Solving the biggest data challenges
Commenting on the news, Frank J. Vella, chief executive officer at ibi, told Information Age that “both TIBCO and ibi have a history of solving complex data problems and delivering data-driven insights. Together, we have a unique opportunity to grow faster and drive new innovation. Through the breadth of our collective data and analytics focused solutions, we will help customers solve their biggest data challenges. I am also thrilled to join a TIBCO culture that appreciates customers and people in the same interested and sincere way ibi always has.”
Dan Streetman, chief executive officer at TIBCO, added: “Data-driven insight is more critical than ever. With the acquisition of ibi, we gain access to a broader set of analytics and technology, greatly enhancing our ability to help the world’s leading organisations solve their most complex data problems.
“The blend of our two companies, with strong and complementary capabilities, will further unlock the potential of real-time data for making faster, smarter decisions.”
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A strategic acquisition
ibi, who has partnered with Information Age an upcoming virtual summit on November 5th — Fuelling digital transformation with data — helps organisations manage complex and disconnected data to build automated intelligence into operations.
With a shared focus on data driving innovation, TIBCO and ibi will partner with customers to transform their business and drive sustainable innovation.
“Bigger data challenges create the need for more robust data solutions,” continued Vella.
“Joining TIBCO will help our customers, who understand the impact of having strategic, data-driven solutions, accelerate their response to their most pressing data opportunities.”
The transaction remains subject to customary conditions and certain regulatory approvals, and TIBCO expects the transaction to close during its first quarter of fiscal year 2021.
Kirkland & Ellis LLP served as legal advisor to TIBCO. Shea & Company LLC served as financial advisor to ibi and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to ibi.