Follows BMC and Compuware off the stock market
Tibco, the enterprise software firm will be bought out and taken private by equity firm Vista Equity Partners.
Vista will pay $24 per share cash. The offer represents over a 25% premium on the shares which jumped 21 percent on the news.
"As a private company, Tibco will have added flexibility to serve our customers and execute on our long-term strategy," Chief Executive Officer Vivek Ranadivé said in a statement.
Vista Equity is a technology focused investment house.
The deal is subject to approval from shareholders and regulators and it expected to close in the fourth quarter.