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by Emily-Sue Sloane, MA Editorial Staff Posted on Thursday, June 19, 2008 4:23:15 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Insightful Corp. brings statistical analysis to the business optimization strategy adopted by the provider of infrastructure software. |
| Keywords: | TIBCO acquisition, application infrastructure acquisition |
TIBCO Software Inc. today announced an agreement to buy Insightful Corp., a provider of statistical data analysis and data mining applications, for roughly $25 million in cash. The deal fulfills a promise TIBCO executives made in March, when they announced first-quarter financial results, that the company would make an acquisition move before long.
The definitive agreement, expected to close in the third quarter, is aimed at expanding TIBCO’s footprint in the business intelligence arena. The application infrastructure software provider took its first step into the BI market segment a year ago by acquiring Spotfire, Inc. for $195 million in cash. That acquisition has proved lucrative. In the first quarter, TIBCO reported that Spotfire accounted for more than half of the license revenue in the company’s business optimization line, adding $8 million to cash flow that quarter.
Now, TIBCO plans to add Insightful’s applications to its business optimization portfolio, complementing Spotfire’s Enterprise Analytics platform in particular, according to prepared statements from both companies. TIBCO’s product lines are grouped into three main areas: SOA technology, business optimization applications, and business process management tools. The company says it serves 3,000 customers worldwide.
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