In what would be one of the biggest deals of 2014 so far, Vista Equity Partners has agreed to acquire TIBCO Software (NASDAQ: TIBX) for approximately $4.3 billion, including the assumption of net debt. The transaction, which will give TIBCO stockholders $24 per share, is expected to close in 4Q. J.P. Morgan and Jefferies have committed to provide debt financing; Kirkland & Ellis is representing Vista.
The agreement was unanimously approved by TIBCO’s Board following a review process, though approval is still required from shareholders. The news provided a jolt to the company’s stock, which closed Monday at $23.65, up 21%. TIBCO, which provides infrastructure and business intelligence software, reportedly spoke with more than 20 potential buyers.