The synergies of the deal will enable TIBCO to add business intelligence features to its software platform that serves large banks.
According to sources familiar with the matter at hand, TIBCO Software Inc, is in the process of acquiring Orchestra Networks, a French data management firm. The acquisition will boost its ability to help clients organize customer data.
Sources went on to add, the deal values Orchestra in the lower end of hundreds of millions of dollars.
While TIBCO declined comment, Orchestra could not be reached for comment.
In 2014, Vista Equity Partners took Palo Alto, California-based TIBCO private in a $4.3 billion deal.
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.
According to sources, both companies have large banks as common customers.
With the EU bring in the General Data Protection Regulation earlier this year in May, global corporations have upped their spending on the protection of personal information.
The deal will enable TIBCO to add a new feature to its software platform, called Connected Intelligence Cloud. The company sells software to enterprises that help them integrate disparate data sets, manage application programing interfaces and data analysis.