Redmond-based Extended Results, a privately held business-intelligence technology company known in part for its PushBI app for Windows 8, has been acquired by Tibco Software of Palo Alto, the companies announced this morning.
Extended Results, which had been in business for almost eight years, has 50 employees. The Extended Results consulting and engineering teams will remain in Redmond, joining Tibco’s professional services and product groups, said Patrick Husting, the Extended Results CEO, who was the sole owner of the company.
Husting, a former Microsoft senior consultant, will become a vice president in Tibco’s Spotfire business unit as a result of the acquisition. Extended Results’ mobile products will be folded into Tibco’s Spotfire platform, and existing Extended Results customers will be migrated to Spotfire.
Financial terms of the deal weren’t disclosed. Husting credited the Extended Results team for the company’s growth and said the acquisition “will free me up to move mobile business intelligence into the mainstream for companies” as part of Tibco.
“I truly believe looking at a dashboard or a report will be a thing of the past or limited to analysts,” he said via email. “With all the amazing features of smartphones and tablets, I believe we can begin turning business metrics into real-time data instead of looking at data that is 30 days old.”
Why did he sell? Husting said Extended Results reached a point in its business where new customer leads were putting a strain on the company, giving it the choice of raising millions from VCs to fund its next stage of growth, or finding the right acquirer in a position to scale the business globally. Joining Tibco, a publicly traded company with more than $1 billion in revenue, will allow that to happen quickly, he said.
Extended Results focused heavily on Microsoft platforms in its engineering and consulting teams, and Husting said he doesn’t expect that to change. “As the leading provider of business intelligence metrics on a Windows 8 device, we see only greener pastures continuing to support that Microsoft relationship,” he said. “We want to help them sell more devices.”