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Business integration software provider Tibco Software Inc. is going to acquire data and content delivery software provider Talarian Corp. in a deal worth $115 million.
Tibco will buy Talarian, based in Los Altos, Calif., for $5.30 per share, half in stock and half in cash for each of Talarians outstanding shares, the companies said. Tibco announced its plans on Saturday.
The move, expected to bring additional messaging expertise to Tibcos integration messaging offerings, also delivers Talarians 300 customers, many of which are brand name firms in financial services, telecommunications and aerospace. Talarian clients include Visa, the American Stock Exchange, the New York Stock Exchange, Raytheon Corp., Lockheed Martin Corp. and Nortel Networks Corp.
Tibco officials said completion of the acquisition is subject to regulatory approval as well as Talarian shareholder approval. According to Tibco, Talarian shareholders holding 35 percent of Talarians outstanding shares have agreed to support the deal and vote in favor of it at an upcoming shareholder meeting. Officials with Tibco, of Palo Alto, Calif., said they expect the merger will be completed in the companys second fiscal quarter.
Talarians SmartSockets technology is infrastructure software to deliver data and content in real time over “any network, to any device,” the company said. The companys adaptive multicast technology selects the appropriate data delivery mechanism for content delivery based on application needs and network capabilities, according to Talarian officials.