In September 2014, TIBCO Software Inc. began a partnership with Vista Equity Partners. The venture was unanimously approved by TIBCO’s board of directors, who believed that a partnership with Vista would maximize value for shareholders, improve flexibility to better serve customers and help TIBCO better execute their strategy and vision. Vivek Ranadivé, founder of TIBCO, was optimistic, sharing: “The sale of TIBCO to Vista will provide our shareholders with immediate and substantial cash value… We are excited to work with our new partners at Vista and enter our next chapter of growth and industry leadership… We are incredibly excited to help TIBCO reach its full potential." The acquisition officially closed on December 5, 2014, and Murray Rode was appointed as the new CEO. At his appointment, he stated that he believed that the new partnership would help push TIBCO in the right direction and usher in a brighter future. Since then Rode has passed the baton to Dan Streetman, who joined the TIBCO team in April 2019, as the new CEO who was praised by Rode as someone who "brings a high level of energy and commitment to TIBCO that will ensure we continue to expand the reach and scale of TIBCO's Connected Intelligence Cloud to deliver game-changing innovation to the market."
Over the years, the strategic partnership has helped facilitate TIBCO's market growth. Vista's investment in TIBCO has helped enable the company to purchase several technology platforms, including Cisco’'s data virtualization unit, Alpine Data Labs and cloud data integration provider Scribe Software, which is now known as TIBCO Scribe. In 2017, they also acquired data science platform leader Statistica, and in 2018, they purchased French master data management solution provider Orchestra Networks. Since the acquisition by Vista, TIBCO has also stayed up to date with their technology upgrades, developed a feature-rich business intelligence and analytics portfolio and had been named to two of Solutions Review's Best of for 2019 lists, one for data analytics and the other for data integration tools. In March of 2020, TIBCO’s platform, Spotfire®, also won the 2020 DEVIES Award for the Best Innovation in Data Development and Architecture.
In addition to their investment partnership and evolving market, Vista and TIBCO’s relationship has also been philanthropic in nature. In August of 2019, Vista, with the assistance of TIBCO, opened Montebello Campus’ new technology lab in Denver, CO. Empowering with technology is a mission that both Vista and TIBCO share, and the new facility allows students to work hand-in-hand with the latest technological advancements while applying what they learned in their studies. However, Denver was just the start. With the launching of the lab, TIBCO recommitted to a previous educational venture, which will continue to bring cutting-edge technology to students to help further their understanding of technology, setting them up for further success.
TIBCO also made news in early 2020 for trailblazing COVID-19 tracking and understanding. With the continued support of Vista, TIBCO created granular, county-level maps with real-time visualizations of COVID-19 patient cases. The software helps predict future COVID-19 hotspots by visualizing community outbreaks in real-time and showing certain measures, like social distancing, are affecting the virus’s trajectory.
Vista Equity Partners, a leading investment firm, was founded in 2000 by Chairman and CEO Robert F. Smith. Currently, the firm holds offices in Austin, TX, New York, NY, Oakland, CA, and San Francisco, CA, and is solely focused on investing in organizations that specialize in enterprise software, data and technology. For each of the companies in their portfolio, Vista will work with the leadership at the partner organization and dedicate a team to help create a customized plan to accelerate growth and product development, expand customer bases and improve outcomes for all stakeholders in the organization. Vista’s goal when investing is to put the social and market value of its customers, employees, investors and companies at the forefront. Under the leadership of engineer and well-known philanthropist Robert F. Smith, Vista's mission is to create a better, more sustainable planet, a stronger economy and a smart, diverse and inclusive community, something that Vista believes can only be achieved through technological innovation.
As a community builder, Vista takes great pride in serving the cities where each location calls home and the people that live there. Vista’s philanthropic efforts focus mostly on job training, education, the arts and the environment. One example includes Vista’s efforts with Code.org and their Hour of Code program. Vista has made a three-year pledge to help increase opportunities for youth to enter the technology sector. Vista is also proud to be a founding partner in Girls Who Invest. This organization is driven to help increase the number of women in the asset management industry, specifically increasing female roles in portfolio management and leadership. By 2030, Girls Who Invest, with the support of Vista, is determined to have 30% of the world’s investment capital managed by women.
Connect with Vista Equity Partners on LinkedIn to learn more about the companies that they work with.