TIBCO Completes Information Builders Acquisition, Integration Underway
The completion of the acquisition comes just a month after the passing of Gerald Cohen, Information Builders’ founder and former CEO.
TIBCO Software has completed its acquisition of business analytics software pioneer Information Builders, the company said Tuesday, and has begun integrating the two companies’ operations and product lines.
TIBCO and Information Builders announced the acquisition deal on Oct. 22 without disclosing the acquisition price.
News of the completion of the acquisition comes one month after the Dec. 3 death of Gerald Cohen, Information Builders’ founder, co-owner and long-time CEO. Cohen stepped aside as CEO in January 2019 when the company named chief operating officer Frank Vella as the new CEO.
“We‘re excited to recognize the exceptional technology and great reputation built by IBI, and we look forward to providing our existing and future customers with an even broader range of innovative, data-driven solutions to support faster, smarter digital transformations,” said TIBCO CEO Dan Streetman (pictured), in a statement.
TIBCO said the formal integration of Information Builders, headquartered in New York, with TIBCO began after Information Builders closed its financial year on Dec. 31, 2020.
TIBCO “will focus on business alignment and resource mapping for the ongoing health and support of its expanded customer base and worldwide partner network,” the company said of the integration work.
TIBCO, based in Palo Alto, Calif., did not disclose additional details about its plans for integrating Information Builders’ operations or its workforce with its own. The company, for example, has not said whether Vella will have a role at TIBCO.
TIBCO plans to add Information Builders’ flagship WebFOCUS business analytics and reporting platform to its product lineup and enrich its Hyperconverged Analytics business analytics strategy. Information Builders’ data quality, preparation and integration products are being added to the TIBCO Any Data Hub and TIBCO Responsive Application Mesh strategies.
The company will also market its own software, including the Spotfire analytical visualization and Cloud Integration offerings, to Information Builders’ customer base.
“This represents a significant opportunity for TIBCO and IBI as customers strive to become data-first enterprises. There is tremendous potential for any platform that can integrate and manage data to create intelligent workflows for employees, partners, and customers,” said Howard Dresner, chief research officer at Dresner Advisory Services, in the TIBCO statement.
Tibco, which is owned by Vista Equity Partners, has made some 30 acquisitions throughout its history, but the company said Information Builders is the company’s biggest.