UPDATE 1-Tibco shares rise after report says SAP mulling bid
(Adds analyst comments, updates share movement)
By Shrutika Verma
BANGALORE Aug 10 (Reuters) - Shares of Tibco Software Inc TIBX.O surged as much as 17 percent after a German weekly reported that business software maker SAP (SAPG.DE: Quotazione) is considering bidding for the U.S. firm.
On Aug. 8, the weekly, Wirtschaftwoche, cited its source as saying the two companies were in "very advanced talks" but that the outcome was not yet certain. [ID:nL8620524]
"Such a move will be logical on the part of SAP because we feel it would make sense for SAP to expand its portfolio of middleware products," Piper Jaffray analyst Mark Murphy said.
Tibco, which has a market value of about $1.48 billion, specializes in middleware products aimed at integrating programs from various software providers.
Tibco said it does not comment on rumors or speculation. SAP declined comment.
However, analyst Murphy did not comment on whether this speculation was substantial or not.