TIBCO Software to acquire Information Builders, Inc

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TIBCO Software Inc has entered into an agreement to acquire analytics software company Information Builders, Inc (ibi).

The transaction – the value of which has not yet been disclosed – is set to be finalised during the first quarter of fiscal year 2021.

TIBCO and ibi said their partnership will see them collaborate with customers “to transform their business and drive sustainable innovation”.

“Data-driven insight is more critical than ever. With the acquisition of ibi, we gain access to a broader set of analytics and technology, greatly enhancing our ability to help the world’s leading organizations solve their most complex data problems,” said Dan Streetman, chief executive officer, TIBCO.

“The blend of our two companies, with strong and complementary capabilities, will further unlock the potential of real-time data for making faster, smarter decisions,” Streetman continued.

Ibi was established to allow non-programmers to build their own reporting applications and today, ibi-powered software is used by businesses across the healthcare, financial services, public sector, manufacturing, transportation and logistics, and retail industries.

“We founded Information Builders with a vision of a new business intelligence product that would enable non-programmers to build their own reporting applications,” said Gerald D. Cohen, founder and chairman of the board, ibi.

“We are proud of what ibi has accomplished in over four decades of innovation, and it is a privilege to join forces with a company that cares about its customers as much as we do. I am looking forward to a very bright future for our solutions, our team, and especially our customers.”