Tibco (NASDAQ: TIBX) is moving into the customer relationship management (CRM) market with the acquisition of Loyalty Lab for $23 million in cash.
Tibco, which specializes in middleware, business process management (BPM) and supply chain management, is adding Loyalty Lab's customer loyalty management solutions to its growing enterprise applications business.
San Francisco-based Loyalty Lab claims more than 35 clients, "including many of the nation's largest retailers, hospitality chains and consumer product manufacturers," the companies said in a press release announcing the deal.
Loyalty Lab's software-as-a-service (SaaS) offering helps marketers manage loyalty marketing programs, such as frequent flyer programs, from their desktop.
Ram Menon, executive vice president for worldwide marketing at Tibco, said in a statement that a customer loyalty solution needs to support "not only customer transactions but also real-time customer interactions or events," and offer "a platform that scales to billions of such events across an increasingly social and mobile marketplace."
Loyalty Lab CEO Matt Howland said the deal "will allow us to grow and innovate in ways we couldn't do alone. Our clients will benefit greatly from this step, as we become an integral part of Tibco's real-time infrastructure platform and incorporate Tibco's best-in-class analytics capabilities."