TIBCO Software Buys Foresight Corp

TIBCO Software Inc. (Nasdaq: TIBX) has acquired Foresight Corp., a Dublin, Ohio-based provider of transaction automation solutions and EDI productivity tools. No financial terms were disclosed. Foresight had raised around $6 million in VC funding from Autora Funds, Core Capital Partners, Fountainhead Capital and River Cities Capital Funds.

PRESS RELEASE

TIBCO Software Inc. (Nasdaq: TIBX) today announced that it has acquired privately-held Foresight Corporation, a leading provider of transaction automation solutions and EDI productivity tools. Financial details of the transaction were not disclosed.

Based in Columbus, Ohio, Foresight has over 400 customers including healthcare payers representing 60 million lives and BlueCross BlueShield organizations in 31 states. Foresight’s products benefit customers by connecting partners and validating transactions, reducing administrative inefficiencies, and addressing mandates such as HIPAA 5010. Foresight also brings TIBCO deep expertise in the healthcare and EDI markets, where its ability to support and validate transactions across a range of standards will complement TIBCO’s core B2B abilities.

Foresight’s Founder and CEO, Robert Fisher, will join the TIBCO management team and continue to lead the growth and development of the Foresight business.

About TIBCO
TIBCO’s technology digitized Wall Street in the ’80s with its event-driven “Information Bus” software, which helped make real-time business a strategic differentiator in the ’90s. Today, TIBCO’s infrastructure software gives customers the ability to constantly innovate by connecting applications and data in a service-oriented architecture, streamlining activities through business process management, and giving people the information and intelligence tools they need to make faster and smarter decisions, what we call The Power of Now®. TIBCO serves more than 3,000 customers around the world with offices in more than 20 countries and an ecosystem of over 200 partners. Learn more at www.tibco.com.

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