TIBCO Software Acquires OpenSpirit Corporation

PALO ALTO, CA - TIBCO Software Inc. announced in a press release that it has acquired OpenSpirit Corporation, a leading independent provider of data and application integration solutions for the exploration and production segment of the global oil and gas market. Headquartered in Stafford, Texas, OpenSpirit is a privately-held company with over 200 clients in 57 countries. Financial details of the transaction were not disclosed.

OpenSpirit's software products assist geologists and geophysicists in gathering data from multiple sources for determining the likelihood of finding oil, gas or condensates. OpenSpirit's vendor-neutral approach enables companies to pursue a "best of breed" architectural model to both better leverage legacy investments and exploit new technologies. The end result for clients is a reduction in the time and risk associated with drilling decisions.

OpenSpirit's CEO, Dan Piette, has joined TIBCO to lead the development of this business.

TIBCO Software Inc. digitized Wall Street in the '80s with its event-driven "Information Bus" software, which helped make real-time business a strategic differentiator in the '90s. Today, TIBCOs 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.