NEW YORK (TheStreet) -- Shares of Tibco Software Inc. (TIBX) are climbing higher by 20.91% to $23.59 at the start of trading on Monday morning, after the company agreed to be taken private by the equity firm Vista Equity Partners, in a transaction valued at $24 per share or approximately $4.3 billion.
"The sale of Tibco to Vista will provide our shareholders with immediate and substantial cash value, as well as a compelling premium, and the board has unanimously agreed that this transaction is in the best interests of all our stakeholders," Tibco CEO Vivek Ranadive said.
Tibco is a provider of middleware and infrastructure software.
The company said it "strongly" believes that the transaction "best positions the company to execute on our vision of providing the right information, at the right time."
Separately, TheStreet Ratings team rates TIBCO SOFTWARE INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate TIBCO SOFTWARE INC (TIBX) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."
You can view the full analysis from the report here: TIBX Ratings Report