Report: HP Held Acquisition Talks With Tibco Software

Palo Alto, Calif.-based TIbco competes head-to-head with both Oracle and IBM in the enterprise software space with a product portfolio that spans service-oriented architecture (SOA), business process management, complex event processing and cloud computing.

HP's flirtation with Tibco Software fizzled out two weeks ago, according to Reuters. But Tibco shareholders sure seem keen on the idea: Tibco shares rose more than 10 percent to $29.85 Tuesday in the wake of the report.

Tibco has been on a bit of an acquisition spree of its own in the past year, buying OpenSpirit (data and application integration), Proginet Corporation (advanced managed file transfer) and Netrics (enterprise data matching). Tibco in January launched Tibbr, an enterprise social networking application that puts the company in direct competition with the likes of Chatter and Yammer.

Software represents just three percent of HP's $126 billion in annual revenue, and CEO Leo Apotheker has made boosting this figure one of his early top priorities. HP early next year plans to open a software development center in Silicon Valley that will house the ArcSight and Fortify teams as well as other software specific personnel.

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HP outdueled Dell for 3Par and closed its $2.35 billion acquisition of the storage startup last September. HP last month completed the integration of 3Par into its Converged Infrastructure offerings.