Tibco Announces Review Of Strategic Alternatives

(RTTNews) - Tibco Software Inc (TIBX) said Wednesday its board unanimously initiated in about mid-August, a review of a variety of strategic and financial alternatives available to the company through the formation of a Special Committee of independent directors, composed of Nanci Caldwell, David West and Eric Dunn. Wilson Sonsini Goodrich & Rosati and Goldman, Sachs & Co. have been retained to assist in the review.

"Following a detailed evaluation over the past several months, we have determined that it is prudent to undertake a wide review of strategic and financial options to see which alternative or alternatives, including our standalone plans, are in fact the best way to maximize shareholder value," said Vivek Ranadivé, Tibco chief executive officer.

"Regardless of the outcome of the Special Committee's review, the entire TIBCO team is fully committed to meeting the needs of our customers and continuing to provide them with industry-leading solutions. We remain focused on innovating and expanding our exceptional product portfolio while executing on the strategic and operational initiatives we announced earlier this year."