Reuters may float off Tibco

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The Independent Online
REUTERS is looking at floating off its Tibco Software subsidiary in a move designed to give employees of the Silicon Valley-based outfit access to share options, writes Peter Thal Larsen.

Reuters yesterday said it was considering a number of plans for Tibco, including a flotation, although no decision had been made.

"Silicon Valley is a very attractive environment for these technology companies," said Rob Rowley, Reuters' finance director. "It's about the motivation of employees." However, he said no proposals had been considered by Reuters' board.

Tibco has developed Internet software for non-financial companies. It was part of Teknekron, the business Reuters bought for $125m in 1994.