(Reuters) - TIBCO Software Inc, a large privately-held business software provider, is acquiring French data management company Orchestra Networks in a move that will bolster its ability to help clients organize customer data, according to sources familiar with the matter.
The deal, which could be announced as soon as Tuesday, values Orchestra in the low hundreds of millions of dollars, the sources added.
TIBCO declined to comment and Orchestra could not be reached for comment.
Palo Alto, California-based TIBCO was taken private by software-focused buyout firm Vista Equity Partners in 2014 for $4.3 billion.
Founded in 2000 in Paris and owned mostly by its founders, Orchestra Networks’ primary product, EBX, allows customers to manage and share a wide array of data assets and comply with regulations. The two companies have some large banking customers in common, one of the sources said.
The General Data Protection Regulation brought in by the European Union in May to protect personal information in the internet age has led to global corporations spending more on tightening data controls and using software to help.
The deal will allow TIBCO to add a new feature to its software platform, which it calls its Connected Intelligence Cloud. TIBCO sells software to enterprises that help them integrate disparate data sets, manage application programing interfaces and analyze data.
TIBCO has made more than 30 acquisitions over the course of its history, including Scribe Software earlier this year and Cisco’s data virtualization business last year.
Reporting by Carl O'Donnell and Liana B. Baker in New York; editing by Bill Berkrot