Tibco Software Inc. (NASDAQ:TIBX) today announced that it has completed its acquisition of Insightful Corporation.
As a result of the merger, Insightful Corporation is now a wholly-owned subsidiary of TIBCO.
Originally announced on June 19, 2008, the acquisition of Insightful Corporation is expected to complement key growth areas within TIBCO's business optimization portfolio, including the TIBCO Spotfire enterprise analytics platform.
As a result of the merger, which was completed on September 3, 2008, each outstanding share of common stock of Insightful Corporation has been converted into the right to receive $1.87 in cash, without interest and less any applicable withholding taxes.