The US-based cloud software company Tibco acquired the UK-based Nimbus Partners, a company which provides a business management software application, on 30 August, for an undisclosed amount.
Nimbus had raised $3m of funding from Chevron Technology Ventures, the corporate venturing unit belonging to the US-based automotive conglomerate Chevron, and venture capital (VC) firm Solon Ventures, in March 2009.
Prior to that, Nimbus’ main backer was the UK-based VC firm t Chevron Technology Ventures, the corporate venturing unit belonging to the US-based automotive conglomerate Chevron, and venture capital (VC) firm Solon Ventures, , which invested €4.5m ($6.3m) in February 2004.
Although Nimbus and Tibco operate in similar areas, the two companies complement each other in that Tibco’s software focuses largely on the automation of data, systems and processes whereas Nimbus operates on a more intricate level, enabling users to collaboratively document and compare all aspects of a business.
Murray Rode, chief operating officer of Tibco, said: "Nimbus extends Tibco’s range of business process improvement solutions and deepens our abilities in process discovery and governance, social collaboration, and analytics. We are delighted to welcome Nimbus to the Tibco family."