M&A Deal Summary

Vista Equity Partners and Virgo Capital Acquire Tibco

On September 29, 2014, private equity firms Vista Equity Partners and Virgo Capital acquired software company Tibco for 4.3B USD

Acquisition Highlights
  • This is Vista Equity Partners’ 19th and Virgo Capital’s 3rd transaction in the Software sector.
  • This is Vista Equity Partners’ 7th and Virgo Capital’s largest (disclosed) transaction.
  • This is Vista Equity Partners’ 42nd and Virgo Capital’s 5th transaction in the United States.
  • This is Vista Equity Partners’ 4th and Virgo Capital’s 1st transaction in California.
Investment Fate
  • Tibco was sold to a strategic buyer in 2022.

M&A Deal Summary
Date 2014-09-29
Target Tibco
Sector Software
Buyer(s) Vista Equity Partners
Virgo Capital
Deal Type Going Private
Deal Value 4.3B USD
Advisor(s) Goldman Sachs (Financial)
Wilson Sonsini Goodrich & Rosati (Legal)

Target

Tibco

Palo Alto, California, United States
Entrance to Tibco Software's corporate headquarters in Palo Alto, California.
Entrance to Tibco Software's corporate headquarters in Palo Alto, California.
Tibco is a provider of middleware and infrastructure software. Tibco's standards-based software platform enables customers to create flexible, event-driven applications from infrastructure and deliver real-time, actionable insights. Tibco was formed in 1985 and is based in Palo Alto, California.

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Buyer(S) 2

Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.

DEAL STATS #
Overall 46 of 149
Sector (Software) 19 of 59
Type (Going Private) 8 of 25
State (California) 4 of 17
Country (United States) 42 of 137
Year (2014) 7 of 10
Size (of disclosed) 7 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-21 SumTotal Systems

Gainesville, Florida, United States

SumTotal Systems is the HR software solution provider to deliver more than Human Capital Management with Talent Expansion, a whole new approach to discovering, developing, and unleashing the hidden potential within our customers' workforce. SumTotal Systems was founded in 1985 and is based in Gainesville, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-02 MicroEdge

New York, New York, United States

MicroEdge LLC, is a provider of IT solutions to the grantmaking community, including private foundations, corporate philanthropy and employee giving programs, community foundations and various other giving organizations. The Company’s suite of products streamlines the full grantmaking lifecycle, from upfront submission through back-end evaluation and measurement, freeing up foundation staff to focus on issues more central to their organization’s mission.

Sell $160M
Buyer

Virgo Capital

Austin, Texas, United States

Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 100M USD
Size Small
Type Sector Focused
DESCRIPTION

Virgo Capital is a private equity firm focused on making control investments in lower middle-market software and technology-enabled service companies. Virgo Capital pursues businesses with revenues between $10 and $30 million. Virgo Capital was formed in 2005 and has offices in Austin, Texas and Oklahoma City, Oklahoma.

DEAL STATS #
Overall 5 of 9
Sector (Software) 3 of 4
Type (Going Private) 1 of 2
State (California) 1 of 1
Country (United States) 5 of 9
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-25 Accruent

Austin, Texas, United States

Accruent, Inc. is a provider of physical resource management software. Accruent provides market planning, site selection, project management, lease administration, facilities and space management software that is purpose-built for specific industries to deliver greater customer value. Accruent, Inc. was founded in 1995 and is based in Austin, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-06 SirsiDynix

Lehi, Utah, United States

SirsiDynix is a provider of integrated library systems (ILS) software, which is specialized enterprise resource planning software for libraries used to automate and optimize the entire operation of a library as well as enhance a library’s ability to serve its users and community. SirsiDynix was founded in 1979 and is based in Lehi, Utah.

Buy -
Mergr

Product

Company

Legal