TIBCO Software To Be Acquired By Vista Equity Partners For $24/shr In Cash

(RTTNews) - TIBCO Software Inc. (TIBX) said Monday that it reached a definitive agreement to be acquired by Vista Equity Partners, a private equity firm focused on software, data and technology-enabled businesses. As per the terms of the agreement, TIBCO stockholders will receive $24.00 per share in cash, or a total of about $4.3 billion, including the assumption of net debt.

The purchase price represents a 26.3 percent premium to the closing price of TIBCO common stock on September 23, 2014, one day prior to public reports that multiple parties were competing to acquire TIBCO.

The agreement was unanimously approved by TIBCO's board of directors following a thorough review of strategic and financial alternatives conducted by a Special Committee of the Board.

The transaction is expected to close in the fourth calendar quarter of 2014. It is subject to approval by TIBCO stockholders, regulatory approvals and other customary closing conditions. There are no financing conditions associated with the proposed agreement.