TIBCO Announces Intent to Acquire LogLogic
TIBCO Software Inc. (NASDAQ: TIBX) today announced that it has entered into a definitive agreement to acquire LogLogic Inc., a privately held company based in San Jose, California that offers one of the industry's leading scalable log and security management platforms specifically designed for the enterprise and cloud. The acquisition will expand TIBCO's operational intelligence offerings while providing customers the ability to proactively monitor real-time events, assess risks, and address 21st century threats and opportunities.
Enterprises must be able to analyze Big Data, including machine data generated from across their various systems, to gain comprehensive, real-time insights into critical business questions relating to compliance, security and operations. LogLogic will build upon TIBCO's proven capabilities in event processing and in-memory analytics.
More than 1,000 companies worldwide across all major sectors entrust their most sensitive IT data to LogLogic's award-winning products. Examples include Astrium, The Body Shop, Cerner, EADS, Plantronics, The United States National Archives and Records Administration, University of Manitoba, and many others.
The transaction was approved by the board of directors of each company. Additional terms of the transaction were not disclosed. The transaction remains subject to customary conditions and is expected to close in the second quarter of TIBCO's fiscal year 2012.
LogLogic® develops scalable log and security intelligence platforms (LSIPs) for the enterprise and cloud. As the originator of LSIP, LogLogic is the only provider to give enterprises the benefits of both Security Information and Event Management (SIEM) and Log Management in a single, highly scalable architecture. For more information, visit LogLogic on the web at http://www.loglogic.com or on Twitter or Facebook.
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 optimizing claims, processing trades, 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.
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: the expected closing in TIBCO's second fiscal quarter of 2012, the successful consummation of the proposed transaction, TIBCO's ability to successfully integrate LogLogic after the acquisition, the ability of the acquisition to expand TIBCO's operational intelligence offerings while providing customers the ability to proactively monitor real-time events, assess risks, and address 21st century threats and opportunities, and whether LogLogic will build upon TIBCO's proven capabilities in event processing and in-memory analytics. In addition, the acquisition may not occur or may not occur in the time currently contemplated if the conditions to the merger are not met. 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, 2011. TIBCO assumes no obligation to update the forward-looking statements included in this release.
TIBCO, two-second advantage 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.