Business & Real Estate

September 30, 2014 12:00 AM

Ranadive’s software company, Tibco, sold for $4.3 billion

Vivek Ranadive has spent the past year breathing new life into the Sacramento Kings, helping the tired franchise boost ticket sales and corporate sponsorships. His software company in Palo Alto hasn’t fared as well. Capping nearly two years of disappointing financial results and a decline in its stock price, Tibco Software Inc. agreed to be sold Monday to a private equity firm for $4.3 billion. The deal will give Ranadive a personal payout of $316.4 million for his share of the company he founded 17 years ago, according to regulatory filings.

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