Tibco Software, a provider of "infrastructure" software for financial services firms, said Monday that it acquired DataSynapse for $28 million.
DataSynapse, based in New York City, provides software that ties together computers working across different electronic "grids" and at different server farms in the computing "cloud." The company said its grid and cloud computing software serves more than 100 financial services and telecommunications customrs.
DataSynapse co-founders, Peter Lee and Jamie Bernardin, will join Tibco's management team.
The acquisition comes two weeks after a German weekly publication reported that the large enterprise software firm, SAP AG, was considering a bid for Tibco. Wirtschaftwoche said the two firms were in "very advanced talks." But no acquisition of Tibco by SAP has been announced.
Tibco's shares were off 1.3% to $9.13, at midday. Investors in DataSynapse included Bain Capital, Goldman Sachs, Intel Capital, NeoCara Ventures, Silicon Alley Venture Partners, the NYC Investment Fund, Wachovia Strategic Ventures and Wand Partners, according to Barron's.

This article can also be found at SecuritiesIndustry.com

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