TIBCO Acquires BPM Software Maker Staffware
The acquisition will build on TIBCO's capabilities for integrating business processesand broaden the company's potential customer base to include IT as well as business users, officials said.TIBCO Software Inc., best known for its namesake bus model integration software, is broadening its horizons. The company on Thursday announced the acquisition of U.K.-based Staffware plc for the equivalent of $217 million. Staffware makes BPM [business process management] and workflow software. The acquisition will build on TIBCOs capabilities for integrating business processesand broaden the companys potential customer base to include IT as well as business users, officials said.
The deal also will add depth to TIBCOs increasingly vertical focus. More than half of Staffwares customers are banks that use its software to automate loan approvals and mortgage applications, according to Hoovers Online, a business research site. Staffwares remaining customers are in the insurance, telecommunications and government sectors.