Tibco jumps on report of HP buyout talks

(Reuters) - Shares of Tibco Software Inc (TIBX.O) jumped 11 percent on Tuesday to their highest in a decade, a day after Reuters reported that Hewlett-Packard Co (HPQ.N) had considered buying the business software maker to beef up its software business.

The report cited sources saying the talks had fizzled out two weeks ago.

Tibco, which makes software to coordinate business processes and manage workflows, recently reported a 29 percent rise in sales from software licenses in the first quarter -- one of the highest growth rates in the industry.

Shares of the Palo Alto, California-based company were up 6 percent at $28.59 in early morning trade on Nasdaq, after hitting a high of $29.85 earlier in the session.

Nearly 3 million shares had changed hands by 10:20 ET. (Reporting by Sayantani Ghosh in Bangalore; Editing by Saumyadeb Chakrabarty)