TIBCO Completes Acquisition of Proginet Corporation

TIBCO Software Inc. (NASDAQ: TIBX) today announced the closing of its acquisition of Proginet Corporation (OTCBB: PRGF), extending the company's suite of multi-platform software solutions for fast, secure file transfers both inside and outside the enterprise via an on-premise or cloud-based deployment model. This acquisition augments TIBCO's broader software infrastructure offerings and will help customers across industries more efficiently manage the information and processes that run their businesses.

Driven by the accelerating pace of business and related operational demands, compliance with security regulations, B2B integration requirements, and the continuing trends of consolidation and outsourcing in the marketplace, the volumes of information that corporations need to manage continue to increase exponentially. As a result, file transfers are growing in both number and size, yet organizations continue to struggle with securing, controlling and managing that information.

Managed File Transfer (MFT) allows organizations to more easily manage the movement of files and better integrate those files with their end-to-end business processes. An MFT solution coordinates the authorization and authentication of file data movement and creates alerts on success or failure, key to the needs of today's real-time organizations.

"Having MFT as part of your organization's information strategy has become essential," said Tom Laffey, executive vice president of Products & Technology, TIBCO Software Inc. "Efficiently transferring key files to the right place in a reliable, secure, and auditable fashion can mean the difference between business success and failure."

Proginet was positioned as a Leader in Gartner's 2009 Magic Quadrant for Managed File Transfer¹ and has been an innovator in moving file data more efficiently for almost 20 years. Under terms of sale, Proginet immediately becomes part of TIBCO Software Inc. and its products will be available through the company's various sales channels.

For more information, please visit: www.tibco.com

About the Magic Quadrant

The Magic Quadrant is copyrighted 2009 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.