TIBCO Acquires Orchestra Networks

It’s the second acquisition this year for TIBCO. The integration and analytics software company announced this week that it purchased Orchestra Networks for an undisclosed amount.

“This is a very important acquisition for us, supporting our mission to create the world’s leading platform for digital business. Orchestra Networks will allow TIBCO to address our customers’ simple and complex master data and data asset management needs quickly and easily,” said Matt Quinn, chief operating officer, TIBCO.

Founded in 2000, Orchestra Networks specializes in master data management and data access management solutions, including EBX a solution that helps clients manage, govern, and share all master data, reference data, and metadata assets. The addition of the Paris-based company to TIBCO’s portfolio will help it expand its Connected Intelligence platform with data assets for operational and analytics processes.

“EBX, an industry-leading master data management solution, will be further amplified as part of the TIBCO Connected Intelligence Cloud. EBX customers will gain instant access to our leading integration and analytics capabilities for their data assets. Orchestra Networks brings an exceptional team that, with TIBCO, will continue to support their customers and partners,” said Quinn.

In the press release, Christophe Barriolade, co-founder and CEO of Orchestra Networks mentioned how the acquisition will boost EBX, saying that the company will support it on a “larger, more global scale while offering complementary API-led integration and AI-driven analytics capabilities” to Orchestra Network’s customers.

This is TIBCO’s 23rd acquisition since it was founded in 1997. TIBCO itself was acquired by Vista Equity Partners in 2014.

The company demoed at FinovateAsia 2013, showcasing how banks can leverage their clients’ transactional data to gain insight into customer behavior. At the beginning of this year, TIBCO made two C-level appointments, transitioning Matt Quinn to a new role as TIBCO’s COO and hiring Nelson Petracek as its new CTO.

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Finovate Alums Earn Spots on insideBIGDATA IMPACT 50 List

It is no surprise to see companies like NVIDIA, Intel, Dell EMC, and SAS at the top of the quarterly insideBIGDATA IMPACT 50 roster. But what caught our eye was the handful of Finovate alums that won recognition on insideBIGDATA’s review of companies that are “making waves in the technology areas of big data, data science, machine learning, AI, and deep learning.”

“Our in-box is filled each day with new announcements, commentaries, and insights about what’s driving the success of our industry so we’re in a unique position (to) publish our quarterly IMPACT 50 List of the most important movers and shakers in our industry,” Daniel D. Gutierrez, managing editor and resident data scientist of insideBIGDATA wrote in an article accompanying the announcement.

What does it take to make the list? Gutierrez explained that the roster consists of companies that “exhibit technology leadership, strength of offering, proven innovation, positivity of message, quality perception in the enterprise, intensity and frequency of social media buzz, high profile of members of the C-suite, and in the case of public companies: positive financial indicators and stock price, and so much more!”

Our five honored Finovate alums are below. To see the full list of 50 “DataTech” companies, visit insideBIGDATA.

#9 Google (Europe 2018, Fall 2011): Appearing first on the Finovate stage with its Google Advisor solution and as recently as this spring in partnership with KBC Bank Ireland, Google is in the top ten of insideBIGDATA’s Impact 50 list. Google needs little introduction as one of the companies that has done the most to bring the benefits of data to technology consumers via solutions like Search, Maps, Google Play, and its Chrome browser. Founded in 1998, Google is headquartered in Mountain View, California.

#14 Kinetica (Europe 2018, Fall 2017):  Founded in 2009 and headquartered in San Francisco, California, Kinetica enables financial institutions to conduct on-demand risk calculations using the most up-to-date data with “sub-second speed.” High frequency trading firms and traditional asset managers alike can leverage Kinetica’s technology to measure risk, identify customer behavioral patterns, and locate up-sell opportunities. With $63 million in funding, Kinetica includes fellow insideBIGDATA Impact 50 members Dell EMC, NVIDIA, and Google Cloud Platform among its partners.

#15 MapD (Spring 2017, Fall 2016): Developer of the world’s fastest open source SQL engine, MapD harnesses GPUs to deliver extreme speed at scale. Based in San Francisco, MapD provides users with powerful data visualizations made possible by the technology’s ability to query and render billions of rows of data in milliseconds. MapD’s technology originated from research conducted at the MIT Computer Science and Artificial Intelligence Laboratory (CSAIL). Todd Mostak is CEO of the company, which was founded in 2013.

#40 Narrative Science (Fall 2013, Spring 2013): Specialists in Advanced Natural Language Processing (NLP), Narrative Science builds solutions that enable financial institutions to analyze, understand, communicate, and act upon their data quickly and efficiently. The company’s technology can turn ordinary numeric and symbolic data and visualizations into “intelligent narratives” that express insights and context in language that is indistinguishable from that of a human author. Headquartered in Chicago, Illinois, and founded in 2010, Narrative Science has raised more than $43 million in funding. Stuart Frankel is CEO.

#46 TIBCO (Asia 2013, Asia 2012): Founded in 1997 and headquartered in Palo Alto, California, TIBCO is a leader in integration, API management, and analytics. The company’s TIBCO Connected Intelligence Cloud gives enterprise users access to a unified suite of services including the company’s low-code development platform, TIBCO Cloud Live Apps. The company was acquired by Vista Equity Partners in September 2014 in a deal valued at $4.3 billion. TIBCO made headlines earlier this year with the appointment of a new CTO and COO.

TIBCO Introduces New CTO and COO

Big moves at the top for TIBCO. The company’s CTO Matt Quinn will transition to a new role as TIBCO’s Chief Operating Officer as the firm taps Nelson Petracek as its new Chief Technology Officer. In a press release, the company contextualized the move as part of its effort to “ramp up” its TIBCO Connected Intelligence Cloud, which Quinn will oversee.

“Our customer-first mindset is one of the many reasons I’m proud to be part of the TIBCO team,” Quinn said. “When customers choose TIBCO, I want to ensure that they receive a high-performing service that propels the growth of their businesses. I am excited to continue expanding and innovating to meet every customer need.”

Quinn joined TIBCO as a developer in 1997, became CTO in 2010 and was appointed EVP in 2014, which gave him responsibility for product engineering and support. He was educated at RMIT University, earning a Bachelor degree in Computer Science and a Masters in Applied Technology, IT.

An 11-year TIBCO veteran, Petracek transitions to CTO after leading the Strategic Enablement Group, which pursued innovative technologies such as low-code applications, the blockchain, and natural language processing. Petracek came to TIBCO from Informatica Corporation’s Emerging Technologies business unit where he served as Senior Director. He has a degree in Computational Science from the University of Saskatchewan. TIBCO CEO Murray Rode praised Petracek for his “deep, technical knowledge and broad customer relationships.”

“I’m honored to be part of such a forward-thinking company,” Petracek said. “Working at the forefront of technology innovation and serving the dual needs of our corporate strategy and customer advocacy, I’m excited to help craft TIBCO’s technology strategy as we continue to build valuable tools for businesses.”

Ranked #1 in Dresner Advisory Services 2018 Location Intelligence Market Study and named a leader in Enterprise Data Virtualization by Forrester Research, TIBCO announced a partnership with Singapore Polytechnic in January to support local engineering SMEs. An active acquirer, TIBCO purchased Cisco’s data visualization business and acquired data science and social collaboration platform Alpine Data last fall. TIBCO itself was acquired by Vista Equity Partners in 2013, one year after the company made its Finovate debut at FinovateAsia 2013. At the conference, TIBCO demonstrated its Innovative Payment Solutions technology which enables merchants and banks to gain analytic insights from customer transactions without requiring the customer to provide any other significant, personal financial information.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.