Palo Alto, California, USA, April 28, 2014 – TIBCO Software Inc. has announced its acquisition of Jaspersoft Corporation, a privately held provider of embedded business intelligence (BI) and reporting software.
Jaspersoft’s commercial open source business model and embedded business intelligence suite allows application developers to embed highly interactive reports, dashboards and analytics into their applications. These tools give customers the ability to gain insight from multiple data sources and ultimately make better decisions. The total consideration paid was approximately US$185 million. The acquisition is expected to be neutral to TIBCO’s non-GAAP earnings per share for its 2014 fiscal year.
Consumption of business intelligence and analytics tools has increased dramatically in recent years, driven by demand from the business-led sectors of data discovery and application-centric embedded analytics. Jaspersoft is a market leader in the embedded analytics market for enterprise and Software-as-a-Service (SaaS) applications. TIBCO Spotfire® is a market leader in the data discovery, interactive analytics and advanced segments of the analytics market. The acquisition accelerates TIBCO’s expansion into embedded business intelligence and reporting, giving TIBCO the broad portfolio needed to address the two fastest growing segments of the business intelligence market.
Jaspersoft also complements the TIBCO Spotfire go-to-market approach through the use of a commercial open source business model. The current Jaspersoft management team and employees will join TIBCO and continue to pursue the Jaspersoft commercial open source strategy, product road map and low cost, subscription-pricing approach.
“TIBCO’s broader business strategy is to continue to expand our go-to-market model with a wider range of pricing, packaging and deployment options. The acquisition of Jaspersoft accelerates this strategy as it brings a subscription pricing approach for its commercial products along with a set of open source offerings,” said Murray Rode, Chief operating Officer, TIBCO (pictured). “We believe that the combination of our companies’ offerings will allow us to cover the whole of the market opportunity for analytics while providing tremendous value to the combined set of customers and prospects.”
“We live in an era of multiple IT consumption models, from cloud to on-premise to hybrid applications. The Jaspersoft utility cloud service is a perfect complement to our existing SaaS BI Service, TIBCO Spotfire® Cloud. This acquisition continues our focus on delivering the most comprehensive set of analytical solutions for where, when and how the user wants insight,” said Matt Quinn, Chief Technology Ffficer, TIBCO.
Jaspersoft’s open source business intelligence software has nearly 16 million product downloads worldwide, more than 140,000 production deployments of its software and 2,000 commercial customers in 100 countries. A development community of more than 400,000 registered members regularly participates in Jaspersoft’s open source BI projects.
“We are excited about this opportunity to join forces with a market leader in TIBCO,” said Brian Gentile, Chief Executive Officer, Jaspersoft. “TIBCO has a vision of providing the right information, at the right time, in the right context to deliver a competitive advantage for customers. The continuation of Jaspersoft’s open source mission, business model, technology, market presence, and brand – now as part of TIBCO – will allow us to deliver an even better business analytics toolset for the largest customer audience. We look forward to this next step in our journey.”
In addition, TIBCO has also announced the availability of TIBCO Spotfire® 6.5, the latest version of TIBCO’s leading analytics platform. Spotfire® 6.5 brings to market a user-friendly approach, empowering organisations to easily connect to diverse data sources, including new spatial data sources, and create rich visualisations, enabling analytics from the simplest to the most complex levels – all in one product. Also included in this release of Spotfire 6.5 is the updated single-seat Spotfire desktop product, which provides the full power and ease of use of the Spotfire platform for individual users.
“Spotfire 6.5 now provides organisations the tools to build their own unique applications that can connect to complex data sources seamlessly,” said Lars Bauerle, Vice President, Product Management, TIBCO. “Spotfire 6.5 allows customers to quickly build applications that use the power of data sources without exposing the complexity to end users, generating new levels of insights and discovery.”
