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Tibco today acquired Streambase to augment its analytics offering and appeal to the largest financial firms on Wall Street.
Neither company disclosed the final sum. But Tibco released the news on its website today, and it says the acquisition will bring streaming capabilities to its event-processing portfolio.
Palo Alto Calif.-based Tibco is a midsize enterprise company that competes with giants like IBM and Oracle. It has been around since the late ’90s, and it provides infrastructure software that its clients can use in the cloud or on site.
Tibco’s software helps data flow between and within companies in fractions of a second. Customers include e-commerce companies that want to sell products based on real-time customer behavior or broker the processing of high-frequency trades.
Tibco targeted Streambase for its data analytics technology, which is used for algorithmic trading, and it’s a known brand in the capital markets. Tibco is also popular with Wall Street firms, a highly lucrative source of business.
“This combination extends our event-processing abilities and provides a terrific opportunity to address a growing number of use cases for data in motion – in financial services and beyond,” said Tibco chief technology officer Matt Quinn in a statement.
VentureBeat’s Matt Marshall reported in March that Tibco claims to be the fastest growing enterprise software company — despite sales missteps with its larger accounts. Tibco CEO Vivek Ranadive [above] says Tibco has grown 20 percent each year for the past decade.
This spring, Tibco acquired a French location analytics company Maporama, which it will roll into its Spotfire offering. Spotfire, along with Tibco’s messaging product, Tibbr, and some other cloud products, is growing rapidly.
In five years, half of Tibco’s revenue will come from products “I don’t have right now,” Ranadive told VentureBeat.