Shareholders have overwhelmingly approved the $4.3 billion sale of Tibco Software Inc., the Palo Alto tech company founded and led by Sacramento Kings' Chairman Vivek Ranadive.

Ranadive will get a payout of more than $290 million, including the sale of his personal shares and “golden parachute compensation,” according to an earlier SEC filing.

After taking control of the Kings last year, Ranadive established links between the team and his company. For instance, Tibco software is embedded in the Kings’ smartphone app, and the company’s signage is found at Sleep Train Arena.