Tibco Approaches Potential Suitors

(RTTNews) - Business-software firm Tibco Software Inc. (TIBX) has been approaching potential suitors, including private-equity firms, The Wall Street Journal reported, quoting people familiar with the matter.

The talks, which are in early-stage, are not part of a formal process. The firm has a market capitalization of about $3.4 billion.

The firm has been going through tough times. Tibco fell short of earnings expectations, and its Spotfire data software has lost ground to competitors.

Praesidium Investment Management Co., which owns over 3 percent of Tibco's stock, said in a letter to the company's board that it sees substantial opportunity to unlock value.