Tibco Said to Pitch Sale to Private Equity Amid Review

Tibco Software Inc., which is being urged by an activist investor to explore a sale, has begun to pitch its business to private-equity firms as it reviews its strategic options, people with knowledge of the matter said.

The company, which makes software used by businesses, has approached firms including Bain Capital LLC and KKR & Co. to gauge their interest, the people said, asking not to be identified discussing private information. The Palo Alto, California-based company said in a statement yesterday that it’s working with Goldman Sachs Group Inc. and law-firm Wilson Sonsini Goodrich & Rosati on its review.