TIBCO snaps up DataSynapse

Palo Alto, California-based TIBCO Software has acquired privately held DataSynapse in a cash transaction valued at approximately $28m. DataSynapse is a provider of enterprise grid and cloud computing software with more than 100 financial services and telecommunications clients. Its products manage applications across physical, virtual and cloud-based environments. DataSynapse co-founders, Peter Lee and Jamie Bernardin, will join the TIBCO management team.