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TIBCO Software Acquires Foresight Corporation

Fri, 01/08/2010 - 4:01am
The Associated Press

TIBCO Software Inc. (NASDAQ: TIBX) today announced that it has acquired privately-held Foresight Corporation, a leading provider of transaction automation solutions and EDI productivity tools. Financial details of the transaction were not disclosed.

Based in Columbus, Ohio, Foresight has over 400 customers including healthcare payers representing 60 million lives and BlueCross BlueShield organizations in 31 states. Foresight's products benefit customers by connecting partners and validating transactions, reducing administrative inefficiencies, and addressing mandates such as HIPAA 5010. Foresight also brings TIBCO deep expertise in the healthcare and EDI markets, where its ability to support and validate transactions across a range of standards will complement TIBCO's core B2B abilities.

Foresight's Founder and CEO, Robert Fisher, will join the TIBCO management team and continue to lead the growth and development of the Foresight business.

About TIBCO

TIBCO's technology digitized Wall Street in the '80s with event-driven "Information Bus" software, which helped make real-time business a strategic differentiator in the '90s. Today, TIBCO's infrastructure software gives customers the ability to constantly innovate by connecting applications and data in a service-oriented architecture, streamlining activities through business process management, and giving people the information and intelligence tools they need to make faster and smarter decisions, what we call The Power of Now@. TIBCO serves more than 3,000 customers around the world with offices in more than 20 countries and an ecosystem of over 200 partners. Learn more at www.tibco.com (http://www.tibco.com) .

TIBCO, The Power of Now, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. or its subsidiaries in the United States and/or other countries.

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