TIBCO Closes Acquisition of LogLogic
TIBCO Software Inc. (NASDAQ: TIBX) today announced that it has completed the acquisition of 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 often associated with 'Big Data'. Total consideration paid was approximately $130 million.
"LogLogic unlocks for TIBCO a significant new source of pure IT and system events," said Murray Rode, Chief Operating Officer, TIBCO. "Together with our market-leading offerings in event processing and visual analytics, we see great potential to deliver a unique and even broader range of event-driven enterprise applications for cyber-security, operational risk, compliance, and more."
Further details on LogLogic's product integration with other key elements of TIBCO's event-driven software platform will be announced at a later date.
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: TIBCO's ability to successfully integrate LogLogic, 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. 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.