Buys enterprise data matching software firm Netrics
Business software maker Tibco Software has posted revenue of $155m in the first quarter of fiscal 2010, an increase of 17% from $133m in the same period last year. License revenue rose by 21% to $54.1m from $44.8m, while service and maintenance revenue increased to $100m from $88m in the same period last year.
For the quarter ended February 28, 2010, the company posted an operating income of $15.56m, up from $9.23m in the same period last year. Net income was $10.4m, or $0.06 per share, compared to $5.6m or $0.03 per diluted share in the first quarter of fiscal 2009.
During the quarter, the company has closed 97 deals over $100,000 and had 10 deals over $1m. Cash flow from operations was $40.5m.
Vivek Ranadive, chairman and CEO of Tibco, said: “Q1 was a good start to the year, as we delivered strong growth in both revenue and profits. Each of our major regions grew total revenue by double-digit percentages, and seven separate verticals contributed five percent or more of our business.
“As the market leader in event-driven software, we are uniquely positioned to benefit from the shift away from systems built to handle transactions to those built for capitalising on events.”
Seperately, Tibco said that it has acquired a privately-held provider of enterprise data matching software products, Netrics. Financial details of the transaction were not disclosed.
Netrics’ data matching engine is a tool that eases the handling of duplicate, dirty or incomplete data records, while its in-memory, algorithmic-based approach to learning from matches over time improves the efficacy of operations managing large volumes of streaming data, Tibco said.
Tibco said that the Netrics’ technology will complement its data governance, master data management and event-driven offerings. As part of the transaction, Netrics’ president and CEO, Stefanos Damianakis, has joined TIBCO to lead the development of the business.