TIBCO Completes Acquisition of Insightful Corporation
PALO ALTO, Calif., September 03, 2008 - TIBCO Software Inc. (Nasdaq: TIBX) today announced that it has completed its acquisition of Insightful Corporation. As a result of the merger, Insightful Corporation is now a wholly-owned subsidiary of TIBCO.
Originally announced on June 19, 2008, the acquisition of Insightful Corporation is expected to complement key growth areas within TIBCO's business optimization portfolio, including the TIBCO Spotfire® enterprise analytics platform.
As a result of the merger, which was completed on September 3, 2008, each outstanding share of common stock of Insightful Corporation has been converted into the right to receive $1.87 in cash, without interest and less any applicable withholding taxes.
More information is available at: http://spotfire.tibco.com/iful/.
TIBCO's technology digitized Wall Street in the '80s with its event-driven "Information Bus" software, which helped make real-time business a strategic differentiator in the '90s. Today, TIBCO's infrastructure software gives customers the ability to constantly innovate by connecting applications and data in a service-oriented architecture, streamlining activities through business process management, and giving people the information and intelligence tools they need to make faster and smarter decisions, what we call The Power of Now®. TIBCO serves more than 3,000 customers around the world with offices in more than 20 countries and an ecosystem of over 200 partners. Learn more at www.tibco.com.
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TIBCO, Spotfire and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
Legal Notice Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the federal securities laws. All statements other than statements of historical fact could be deemed forward-looking. Because these forward-looking statements involve risks and uncertainties, important factors could cause actual results to differ materially. These forward looking statements include without limitation statements regarding TIBCO's acquisition of Insightful, including that the acquisition of Insightful is expected to complement key growth areas within TIBCO's business optimization portfolio, including the TIBCO Spotfire Enterprise Analytics Platform. These risks and uncertainties include, among others, the risk that TIBCO will not be able to successfully integrate Insightful's business or such integration may take longer or cost more to accomplish than expected, and the risk that operating costs, customer loss and business disruption following the acquisition of Insightful may be greater than expected. Additional information regarding potential risks is provided in TIBCO's filings with the SEC, including its most recent Annual Report on Form 10-K for the year ended November 30, 2007 and Quarterly Reports on Form 10-Q for the quarters ended March 2, 2008 and June1, 2008. TIBCO assumes no obligation to update the forward-looking statements included in this release.