Tibco to buy Talarian in $115 million deal

Tibco to buy Talarian in $115 million deal

California-based Tibco Software is to acquire messaging infrastructure vendor Talarian Corporation in a stock and cash transaction valued at $115 million, including the assumption of stock options.

Under the agreement, Tibco will pay $5.30 per share, half in stock and half in cash for each of Talarian's outstanding shares.

The addition of Talarian's products and services will extend the breadth of Tibco's integration messaging solutions, says the company.

Through the acquisition, Tibco will gain access to Talarian's 300 customers focused mainly in the financial services, telecommunications and aerospace industries, including Visa, American Stock Exchange, Lockheed Martin, Raytheon, New York Stock Exchange, Nortel Networks and MicroMuse.

It is expected that the merger will be consummated in Tibco's second fiscal quarter 2002.

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