TIBCO Software Acquires Loyalty Lab
Adds Customer Loyalty Management to TIBCO Silver™ Family of Cloud Offerings
TIBCO Software Inc. (Nasdaq: TIBX) today announced that it has acquired Loyalty Lab Inc., an independent provider of loyalty management solutions. Headquartered in San Francisco, Loyalty Lab is a privately-held company with over 35 clients including many of the nation's largest retailers, hospitality chains, and consumer product manufacturers (link for more information). The purchase accelerates TIBCO's growing and international presence in the customer loyalty market.
Loyalty Lab's software-as-a-service offering allows marketers to manage world-class loyalty marketing programs, such as frequent flyer mileage programs, from their desktop. The flexible platform and broad stable of open APIs enables loyalty program design without customization and lets marketers focus their attention on motivating improvements in retention, frequency, and advocacy among their customers.
"There are plenty of vendors that offer 20th century approaches to managing so-called customer relationships," said Ram Menon, EVP for Worldwide Marketing for TIBCO. "What businesses require today is a 21st century solution for building customer loyalty – one that supports not only customer transactions but also real-time customer interactions or events, and a platform that scales to billions of such events across an increasingly social and mobile marketplace. TIBCO has seen significant demand from leading banks, telcos and retailers looking to leverage our event-driven platform to manage and improve interactions with their customers. We are excited to further our commitment to this space by combining Loyalty Lab's expertise with our own proven leadership in real-time infrastructure and the cloud."
Loyalty Lab's management team, including Founder and Chairman Mark H. Goldstein and CEO Matt Howland, has joined TIBCO to continue operating the business. Total consideration paid was approximately $23 million in cash.
"We are extremely excited to be the newest part of TIBCO," said Matt Howland, Loyalty Lab CEO. "TIBCO's technology leadership and global presence will allow us to grow and innovate in ways we couldn't do alone. Our clients will benefit greatly from this step, as we become an integral part of TIBCO's real-time infrastructure platform and incorporate TIBCO's best-in-class analytics capabilities."
TIBCO Software Inc. (NASDAQ: TIBX) is a provider of infrastructure software for companies to use on-premise or as part of cloud computing environments. Whether it's efficient claims or trade processing, cross-selling products based on real-time customer behavior, or averting a crisis before it happens, TIBCO provides companies the two-second advantage™ – the ability to capture the right information, at the right time, and act on it preemptively for a competitive advantage. More than 4,000 customers worldwide rely on TIBCO to manage information, decisions, processes, and applications in real time. Learn more at www.tibco.com.
TIBCO, TIBCO Software, TIBCO Silver, and The Two-Second Advantage are trademarks or registered trademarks of TIBCO Software Inc. or its subsidiaries 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.