Shares of business-to-business/Internet infrastructure software company Tibco Software (Nasdaq: TIBX) had a strong first day of trading on Wednesday as the recent run of successful Internet IPOs continued. Tibco Software priced its IPO at $15. The stock closed the day up 17-3/8 to 32-3/8, a gain of nearly 116 percent. The stock opened at 38-1/4 and traded as high as 40.
Media company Reuters is Tibco Software’s majority shareholder, and the software company should benefit from the partnerships it has with many big Internet players. Tibco Software’s partners include Yahoo!, Microsoft, IBM, Cisco Systems, Oracle, Sun Microsystems, 3Com and Hewlett Packard. It’s hard to imagine a stronger all-star group of allies.