Tibco Software Inc. (Nasdaq: TIBX) advanced 2 9/16 to 104 11/16 Friday after the e-business software maker announced an acquisition and a software alliance.
Tibco said it will buy Extensibility Inc., a maker of Extensible Markup Language (XML) software for about $100 million in stock, a move designed to broaden and improve its product offerings.
“As XML becomes the universal language for the Internet, companies conducting e-business in real time will require powerful XML management tools to succeed,” said Tibco Chairman and Chief Executive Officer Vivek Ranadive.
Tibco also said it will team with Mercator Software Inc. (Nasdaq: MCTR) to market each other’s products to customers and develop new technology. Mercator rose 6 43/64 to 27 39/64.