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Tibco Software acquires event processing specialist StreamBase Systems
- — 11 June, 2013 10:27
Tibco Software has added streaming capabilities to its event-processing portfolio with the acquisition of StreamBase Systems.
The move will strengthen Tibco's real-time data analytics offering, particularly for financial applications, the company said Tuesday, allowing it to provide an event-based alternative to batch-centric big data architectures.
StreamBase software is already used in low-latency algorithmic trading, real-time risk management, and in other capital markets applications, Tibco said.
The acquired software will sit in Tibco's event-processing portfolio alongside Tibco BusinessEvents, which can capture, model, manage event streams. Tibco has already incorporated StreamBase's offering into the products listed on its website.
Tibco is seeking two main things with its acquisition strategy: technology and domain expertise, said Tibco CTO Matt Quin in a video interview posted to the company's website.
"We're looking for great technology, ... technology and assets that can really deliver that edge," he said. In addition, the company is seeking domain expertise.
StreamBase matches both criteria, he said: "It's a really important acquisition for Tibco. ... StreamBase is really focused in capital markets."
The entire StreamBase team will join Tibco, the acquired company's CEO Mark Palmer said in a posting to the StreamBase blog.
Neither company provided financial details of the deal.
Peter Sayer covers open source software, European intellectual property legislation and general technology breaking news for IDG News Service. Send comments and news tips to Peter at email@example.com.