Boston, MA 09/05/2014 (wallstreetpr) – According to reports, Tibco Software Inc. (NASDAQ:TIBX) has started pitching its business to several private equity firms. TIBX is doing strategic review of its services; hence, it wants to measure if its offerings are up to the market standards or not. The information was provided by a person close to this matter.
Current position of the company:
Tibco Software Inc. (NASDAQ:TIBX) specializes in the software that are used by a lot of medium and large sized organizations. It has requested companies like KKR & Co. and Bain Capital LLC to draw their attention towards its business. Recently, TIBX announced that it was working with a well-known law firm Wilson Sonsini Goodrich & Rosati and investment & advisory firm Goldman Sachs Group Inc. on its review. The company didn’t want to leave any stone unturned; hence, it decided to take professional services of the players that were best in their business. People who revealed this information refused to disclose their name saying that it was a confidential and private matter. All the presentations are in early stage, and experts think that the proposed sale procedure can take up to a few months to get closed.
Tibco Software Inc. (NASDAQ:TIBX) hasn’t had a good time over the past two years. Its share prices have fallen by 30% during the last two years. The main reason behind the below average performance of the company is the slight fall in revenues. In 2011, the growth was 22% while it went down to just 4% in previous fiscal quarter. It was directly affected by the demand-supply gap which occurred in the previous quarter. Profits of TIBX couldn’t meet market expectations in most recent quarter due to a fall in the sales of Spotfire software. The management of TIBX refused to comment on this issue. Shares of TIBX rose by as much as 9% yesterday, after the announcement of pitching sales to different equity firms was made.
