Successful CMOs achieve growth by leveraging technology. Join us for GrowthBeat Summit on June 1-2 in Boston
, where we'll discuss how to merge creativity with technology to drive growth. Space is limited. Request your personal invitation here
Publicly traded business-intelligence (BI) and data-integration provider Tibco Software said today it’s bought Jaspersoft, a venture-backed company with BI software available by the hour.
The deal cost Tibco $185 million, according to a statement. As a result, Tibco will be able to expand its portfolio.
Tibco reported $1.06 billion in revenue in 2013.
Trusted BI software makers and startups play hard these days as they go after deep-pocketed enterprises. Investors have recently thrown money behind up-and-comers like Bime Analytics, Birst, DataRPM, and ThoughtSpot.
In buying Jaspersoft, Tibco is electing to bolster its portfolio with more features — and buy up a company with some similar capabilities.
Tibco already has a cloud-based BI service, called Spotfire Cloud, and now Jaspersoft’s comparable tool amounts to “a perfect complement,” Tibco chief technology officer Matt Quinn said in the statement. Indeed, analyst firm Gartner has highlighted fast customer adoption soon after Jaspersoft’s utility BI tool became available on the Amazon Web Services marketplace.
Tibco’s Spotfire Cloud software, by comparison, is a fully hosted service; unlike the Jaspersoft service, there’s no need to set up cloud infrastructure to run it.
Jaspersoft stands out for its support for NoSQL databases like MongoDB, Apache Cassandra, and Neo4j.
Meanwhile, Jaspersoft also brings Tibco an open-source play. The Jaspersoft Community could serve as an on-ramp for paying customers.
And naturally, Tibco gets plenty of customers, including British Telecom, Puma, Sierra Club, Sungard, Time Warner Cable, and the U.S. Marine Corps. Jaspersoft claims 2,000 commercial customers and more than 140,000 production deployments.
San Francisco-based Jaspersoft started in 2004. Jaspersoft had received $58 million by the time it announced an $11 million funding round in 2011. Investors include Quest Software, Red Hat, SAP Ventures, Doll Capital Management, Morgenthaler Ventures, Partech International, Scale Venture Partners, and Adams Street Partners.
This isn’t Tibco’s first time going it’s bought a company to improve its services. Last year, it moved to enhance its mobile business intelligence capabilities by buying Extended Results.
Disclosure: Philippe Cases, an investor and board member of Jaspersoft, is also an investor and board member of VentureBeat. See a list of all of VentureBeat’s investors.
TIBCO Software Inc. 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 custo... read more »
Jaspersoft provides the most flexible, cost effective and widely deployed Business Intelligence suite in the world, enabling better decision making through highly interactive, web-based reports, dashboards and analysis. Leveraging a co... read more »
Powered by VBProfiles
VentureBeat’s VB Insight team is studying marketing analytics...
Chime in here, and we’ll share the results.