Tibco Software and Information Builders announced a deal Oct. 22 under which Tibco, based in Palo Alto, Calif., will acquire the New York-based developer of business analytics and data management tools for an undisclosed sum. The acquisition is expected to close in early 2021.
Information Builders, founded in 1975, is a pioneer in the business analytics and reporting software industry with its flagship WebFOCUS software, along with its lineup of data preparation, integration, quality and governance tools.
Thanks to a number of acquisitions through the years, Tibco already offers a comprehensive product portfolio that includes its Hyperconverged Analytics software, Any Data Hub data unification tools, and application integration software—all marketed under what it calls its “Connected Intelligence” platform.
In an interview with CRN following the acquisition announcement, Tibco CEO Dan Streetman outlined the strategy behind the acquisition of Information Builders, which he refers to as IBI for Information Builders Inc., described the early plans for integrating the vendors’ product lines, and spoke about what the acquisition means for the two companies’ customers and hundreds of partners.