The acquisition is expected to close in a few weeks

The acquisition is expected to close in a few weeks

Integration, analytics, and event-processing software company Tibco has agreed to acquire Cisco Data Virtualization (formerly Composite Software), reports Julie Muhn at Finovate (Banking Technology‘s sister company).

The solution powers enterprise-scale data virtualisation and offers associated consulting and support services. Tibco will leverage the new solution to “enhance its portfolio of analytics products and will help clients onboard analytics solutions faster than competing products”.

Additionally, it will “help Tibco adapt to a range of data sources – from traditional, internet of things (IoT)-sourced, to big data”. The new technology creates a virtual layer of data (without the need for extracting) and leaves the original data sources in tact.

“Data virtualisation helps our customers find and analyse the data they need in hours or days, rather than months, so that they can quickly discover insights and take insight-driven action,” says Mark Palmer, senior vice-president of analytics at Tibco.

This is the California-based company’s third acquisition this year, after announcing plans to acquire both for its microservices in July, and data science company Statistica in May.

The acquisition, which is subject to conditions, is expected to close in a few weeks.

Founded in 1997, Tibco was acquired by Vista Equity Partners in 2014.