Software house StreamBase Systems yesterday announced that it has been purchased by infrastructure provider TIBCO Software, enabling TIBCO to include streaming capabilities in its event processing portfolio and market-leading strengths in handling rules-driven scenarios, inferencing models, and transactional events.
Both entities involved in this transaction have kept the financial detail of the TIBCO’s acquisition of StreamBase Systems a private matter.
TIBCO believes that event processing is fundamental to solving big data challenges, hence the intellectual property of StreamBase being of interest to the firm. Together, TIBCO and StreamBase intend to enable large amounts data to be processed in real-time to provide an event-based alternative to batch-centric big data architectures.
Focus on Algorithmic Trading
StreamBase’s technology is somewhat ubiquitous within algorithmic trading circles, and has garnered a reputation for low latency, real-time risk management, and a range of use cases that are especially prevalent in capital markets.
7 Pharma Stocks from EuropeFX You Need to Know for a Covid-19 VaccineGo to article >>
The match between TIBCO and StreamBase could be considered synergistic, the idea being that StreamBase’s event-processing and real-time analytics offerings are expected to complement TIBCO’s event-processing portfolio, which today includes TIBCO BusinessEvents for rules inferencing, state models, and distributed data cache, and TIBCO BusinessEvents Extreme, for vertical scaling of concurrent transactions.
On behalf of TIBCO Software, the company’s CTO Matt Quinn provided the firm’s perspective on the acquisition: “StreamBase has developed a powerful and easy-to-use offering to monitor, understand, and act on event streams in real-time for one of the most performance-intensive industries in the world today,” said.
“This combination extends our event-processing abilities and provides a terrific opportunity to address a growing number of use cases for data in motion – in financial services and beyond” concluded Mr Quinn.
“TIBCO sets the standard in low latency messaging, enterprise integration, and visual and computational analytics. Now with streaming event processing and real-time analytics from StreamBase, TIBCO’s big data platform is the most capable in the industry,” said Mark Palmer, CEO of StreamBase Systems in a corporate statement.”
Mr Palmer is optimistic on the reduction of development costs as a result of his firm’s acquisition by TIBCO: “StreamBase has revolutionized how organizations use real-time data by speeding application development to enable companies to analyze data and take immediate action. We look forward to bringing this significant business advantage to the wide set of industries and customers TIBCO serves”.