TIBCO Full Speed Ahead Following IPO

There's a lot going on over at TIBCO Software these days. Looking to head off growing concern over the vendor’s issuance of an IPO, Simon Yencken, CEO at sister firm–TIBCO Finance Technology–recently issued a statement to explain TIBCO’s intended direction to investors. Meanwhile, officials at the financial services infrastructure software provider recently entered into a series of global initiatives moving toward on-line delivery of financial data and solutions.

Yencken addressed several questions that have swirled about since word of the IPO first emerged earlier this year–specifically concerning the direction TIBCO Software will take, as well its future relationship with TIBCO Finance.

"As the new millenium approaches, the two TIBCOs will remain closely linked, working together to the mutual benefit of their respective clients," says Yencken. "Now, ... TIBCO Software joins the market it helped evolve with the trading of the company’s common stock in its initial public offering on NASDAQ."

"The IPO of sister company TIBCO Software leads both companies into a new phase of history and growth," says Yencken. "Both companies will continue to develop custom products and solutions for their respective markets."

One of the deals TIBCO Software recently inked was an expansion of an existing relationship with Internet media company Yahoo. Under the agreement, TIBCO Finance Technology will feature a graphical link to Yahoo as part of its MarketSheet desktop, a software application that combines real-time market data, news and internal data. As part of the deal, Yahoo has agreed to purchase $4 million of TIBCO’s newly issued stock, and will license TIBCO Software’s real-time infrastructure TIB/Rendezvous software, a component of the TIBCO TIB/ActiveEnterprise product suite. TIBCO Software will also distribute Corporate My Yahoo.

Meanwhile, Sun Microsystems agreed to purchase 500,000 shares of TIBCO common stock at a purchase price of $15 per share. It also licensed an array of TIBCO products for possible inclusion in the Sun and Sun-Netscape Alliance product lines.

Sun will also license the source code to TIBCO’s Pragmatic General Multicast (PGM) software for possible embedding in Sun technology, such as the Java platform and the Solaris operating environment.