Business software maker Tibco Software Inc said it is reviewing its strategic and financial alternatives as part of a process initiated by its board on Aug. 16 to maximize shareholder value.
Tibco has formed a special committee of independent directors to undertake the review.
The company said it had retained Wilson Sonsini Goodrich & Rosati and Goldman, Sachs & Co to assist in the process.
Tibco has been approaching potential suitors, including private equity firms, Wall Street Journal reported on Aug. 6, citing people familiar with the matter.
(Reporting By Subrat Patnaik; Editing by Simon Jennings)