NEW YORK (TheStreet) -- Shares of TIBCO Software Inc. (TIBX) are up 6.94% to $22.50 in pre-market trade after it was reported that the provider of middleware and infrastructure software, which is being urged by an activist investor to explore a sale, has begun to pitch its business to private-equity firms as it reviews its strategic options, sources told Bloomberg.
The company has approached firms including Bain Capital LLC and KKR & Co. (KKR) to gauge their interest, sources added.
In a statement, the company said hat it's working with Goldman Sachs Group (GS) and law firm Wilson Sonsini Goodrich & Rosati on its review.
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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 revenue growth, 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."