M&A Deal Summary

Virgo Capital and Vista Equity Partners Acquires Tibco Software

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

Acquisition Highlights
  • This is Virgo Capital’s 3rd and Vista Equity Partners’ 20th transaction in the Software sector.
  • This is Virgo Capital’s 1st and Vista Equity Partners’ 2nd largest (disclosed) transaction.
  • This is Virgo Capital’s 5th and Vista Equity Partners’ 42nd transaction in the United States.
  • This is Virgo Capital’s 1st and Vista Equity Partners’ 5th transaction in California.

M&A Deal Summary

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

Target

Tibco Software, Inc.

Palo Alto, California, United States
website
Entrance to Tibco Software's corporate headquarters in Palo Alto, California.
Entrance to Tibco Software's corporate headquarters in Palo Alto, California.
Tibco Software Inc. 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 Software was formed in 1985 and is based in Palo Alto, California.

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Buyer(S) 2

Buyer

Virgo Capital

Austin, Texas, United States

Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 100M USD
SizeSmall
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, Inc.

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, Inc.

Lehi, Utah, United States

SirsiDynix, Inc. 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 -
Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 57.0B USD
SizeMega
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 private equity firm focused on investing in software and technology enabled services. 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 with additional offices in Chicago, Illinois; Oakland, California; and San Francisco, California.


DEAL STATS #
Overall 46 of 117
Sector (Software) 20 of 49
Type (Going Private) 8 of 18
State (California) 5 of 14
Country (United States) 42 of 106
Year (2014) 7 of 10
Size (of disclosed) 2 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-21 SumTotal Systems, Inc.

Gainesville, Florida, United States

SumTotal Systems, LLC 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.

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

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