Vivek Ranadive founded Tibco likely to be bought by SAP
By siliconindia   |   Wednesday, 12 August 2009, 00:21 IST   |    6 Comments
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Vivek Ranadive founded Tibco likely to be bought by SAP
Bangalore: Vivek Ranadive founded Tibco Software's shares went on a 52 week high after a report over the weekend that the company was in talks to be acquired by German software company SAP AG. A German weekly, WirtschaftsWoche said that the companies were in advanced talks regarding a buyout. Tibco Software, a Palo Alto, California based software company shares rose to $1.13, or 13 percent, to $9.60 in afternoon trading. Earlier, the stock hit a 52-week high of $9.87, as the American depositary shares of SAP fell 22 cents to $47.17. "Such a move will be logical on the part of SAP because we feel it would make sense for SAP to expand its portfolio of middleware products," said Mark Murphy, Analyst, Piper Jaffray. SAP executives have already informed that they had as much as 5 billion Euros for possible acquisitions. Tibco, has generated revenue of about $623 million over the last 12 months, posting a tripling in profit in its most-recent quarter, majorly due to aggressive cost cutting. The company is among the enterprise computing space which aim to replace hardware heavy databases with "cloud-based" software models. Tibco's shares reached highest in more than two years at $9.87 before paring some gains to trade up $1.08 at $9.55 Monday afternoon. They have surged 90 percent so far this year. Ranadive is a pioneer of real-time software technologies that were first used to "digitize" Wall Street in the early 1980's. He is the Founder and CEO of TIBCO Software, whose real-time software is used by hundreds of leading companies, including Cisco and Goldman Sachs. He is also the author of two books, 'Power of Now' and 'The Power to Predict'. In 2000, Vivek Ranadive was named 'Entrepreneur of the Year' by Siliconindia. In the same year, our magazine profiled Ranadive. Following is the link to the article : http://www.siliconindia.org/magazine/articledesc.php?articleid=LCO310705542"

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