Tibco acquires Praja Inc
This acquisition gives customers new capabilities in directly monitoring real-time business operations against their key performance indicators and rapidly evolving the overall efficiency of their business.
"Praja and Tibco have already cemented a solid partnership, which has shown us that this is an ideal match. For many months now, the companies have worked together closely, resulting in outstanding team chemistry that spans from engineering to sales," said Praja chief executive officer Mark Hellinger. "Praja's technology is currently being integrated into Tibco's business solutions and product offerings, so I'm confident that we will hit the ground running."
"Praja's focus on real-time business decision making will strengthen Tibco's BAM offering," said Vivek Ranadive, chairman and chief executive officer of Tibco Software. "The acquisition of Praja extends Tibco's leadership in business integration and will accelerate our solutions strategy into vertical markets."
The acquisition of Praja's assets will be accounted for as a purchase business combination. Under the purchase method of accounting, the estimated total preliminary purchase price will be allocated to Praja's net tangible and identifiable intangible assets based upon their estimated fair value as of the date of acquisition. A portion of the purchase price is expected to be allocated to in-process research and development and expensed at the time of the acquisition. The other identifiable acquired intangibles will be amortized over their respective useful lives and the residual purchase price will be recorded as goodwill.