TIBCO Software Acquires Jaspersoft
TIBCO Continues to Build Out the Most Comprehensive Analytics Portfolio in the Market
Palo Alto, CA, April 28, 2014 - TIBCO Software Inc. (NASDAQ: TIBX) today announced it has acquired Jaspersoft Corporation, a privately held provider of embedded business intelligence (BI) and reporting software. Jaspersoft's commercial open source business model and embedded business intelligence suite allows application developers to embed highly interactive reports, dashboards and analytics into their applications. These tools give customers the ability to gain insight from multiple data sources and ultimately make better decisions. The total consideration paid was approximately $185 million. The acquisition is expected to be neutral to TIBCO's non-GAAP earnings per share for its 2014 fiscal year.
Consumption of business intelligence and analytics tools has increased dramatically in recent years, driven by demand from the business-led sectors of data discovery and application-centric embedded analytics. Jaspersoft is a market leader in the embedded analytics market for enterprise and Software-as-a-Service (SaaS) applications. TIBCO Spotfire® is a market leader in the data discovery, interactive analytics and advanced segments of the analytics market. The acquisition accelerates TIBCO's expansion into embedded business intelligence and reporting, giving TIBCO the broad portfolio needed to address the two fastest growing segments of the business intelligence market.
Jaspersoft also complements the TIBCO Spotfire go-to-market approach through the use of a commercial open source business model. The current Jaspersoft management team and employees will join TIBCO and continue to pursue the Jaspersoft commercial open source strategy, product roadmap and low cost, subscription-pricing approach.
"TIBCO's broader business strategy is to continue to expand our go-to-market model with a wider range of pricing, packaging and deployment options. The acquisition of Jaspersoft accelerates this strategy as it brings a subscription pricing approach for its commercial products along with a set of open source offerings," said Murray Rode, chief operating officer, TIBCO. "We believe that the combination of our companies' offerings will allow us to cover the whole of the market opportunity for analytics while providing tremendous value to the combined set of customers and prospects."
"We live in an era of multiple IT consumption models, from cloud to on-premise to hybrid applications. The Jaspersoft utility cloud service is a perfect complement to our existing SaaS BI Service, TIBCO Spotfire® Cloud. This acquisition continues our focus on delivering the most comprehensive set of analytical solutions for where, when and how the user wants insight," said Matt Quinn, chief technology officer, TIBCO.
Jaspersoft's open source business intelligence software has nearly 16 million product downloads worldwide, more than 140,000 production deployments of its software and 2,000 commercial customers in 100 countries. A development community of more than 400,000 registered members regularly participates in Jaspersoft's open source BI projects.
"We are excited about this opportunity to join forces with a market leader in TIBCO," said Brian Gentile, chief executive officer, Jaspersoft. "TIBCO has a vision of providing the right information, at the right time, in the right context to deliver a competitive advantage for customers. The continuation of Jaspersoft's open source mission, business model, technology, market presence, and brand – now as part of TIBCO – will allow us to deliver an even better business analytics toolset for the largest customer audience. We look forward to this next step in our journey."
Jaspersoft empowers people every day to make better decisions faster by bringing them timely, actionable data inside their apps and business processes. Its embeddable, cost-effective reporting and analytics platform allows anyone to quickly self-serve to get the answers they need, while scaling architecturally and economically to reach everyone. Thanks to a community that is hundreds-of-thousands strong, Jaspersoft's commercial and open source software has been downloaded millions of times and is used to create the Intelligence Inside apps and business processes. For more information, visit http://www.jaspersoft.com and http://community.jaspersoft.com.
Cautionary Statement 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 factors include, but are not limited to: TIBCO's ability to successfully integrate Jaspersoft, TIBCO's expectation that the acquisition will be neutral to its non-GAAP earnings per share for its 2014 fiscal year, the ability of the acquisition to accelerate TIBCO's expansion into embedded business intelligence and reporting, giving TIBCO the broad portfolio needed to address the two fastest growing segments of the business intelligence market, the acquisition complementing the TIBCO Spotfire go-to-market approach through the use of a commercial open source business model, the continued pursuit of the Jaspersoft commercial open source strategy, product roadmap and low cost subscription-pricing approach, the continuation of TIBCO's broader business strategy to expand its go-to-market model with a wider range of pricing, packaging and deployment options, the acquisition's acceleration of this strategy by bringing a subscription pricing approach for TIBCO's commercial products along with a set of open source offerings, the ability of the combination of the two companies' offerings to allow TIBCO to cover the whole of the market opportunity for analytics while providing tremendous value to the combined set of customers and prospects, and whether the continuation of Jaspersoft's open source mission, business mode, technology, market presence and brand, as a part of TIBCO, will allow Jaspersoft to deliver an even better business analytics toolset for the largest customer audience. 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, 2013. TIBCO assumes no obligation to update the forward-looking statements included in this release.
TIBCO Software Inc. (NASDAQ: TIBX) is a global leader in infrastructure and business intelligence software. Whether it's optimizing inventory, cross-selling products, or averting crisis before it happens, TIBCO uniquely delivers the Two-Second Advantage® – the ability to capture the right information at the right time and act on it preemptively for a competitive advantage. With a broad mix of innovative products and services, TIBCO is the strategic technology partner trusted by businesses around the world. Learn more about TIBCO at www.tibco.com.
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TIBCO, TIBCO Software, Spotfire and Two-Second Advantage are trademarks or registered trademarks of TIBCO Software Inc. or its subsidiaries in the United States and/or other countries. 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.