News

A group of investors buys Citrix for 16,500 million

After several months of serious problems, which even led to the departure of its CEO, rumors of a sale, and a restructuring, Citrix has finally changed hands. A group of investors, made up of venture capital entities Vista Equity Partners and Evergreen Coast Capital (partner at Elliott Investment Management), He has stayed with the company for 16,500 million of dollars. The operation has been unanimously approved by the Citrix board of directors, and if all goes according to plan it will be closed by mid-2022.

Payment of the aforementioned amount will be in cash, and the agreement will include the assumption of Citrix’s debt. Vista already has plans for the company: merge it with Tibco, another software company that it bought in 2014. Of course, before they want to turn it into a private company. Citrix is ​​currently listed on the Nasdaq. Its shareholders will receive 104 dollars in cash for each share, a price that is 24% higher than it was at the close of the session on December 20, 2021. It is the day before the first rumors about this operation began to emerge. .

Tibco is currently focused on enterprise data management, specializing primarily in predictive analytics. Citrix buyers expect this merger to “empower customers and users with the data and secure access to information and applications they need to accelerate digital transformation and advance the hybrid workplace.”

In total, Tibco and Citrix will have a combined customer base of 400,000, including 98% of Fortune 500 organizations. Citrix will retain its current brand name and continue to operate from its Fort Lauderdale headquarters ( Texas).

Bob Calderoni, Chairman of the Board of Directors of Citrix, and its CEO and Interim Presidenthas pointed out that «Over the past three decades, Citrix has established itself as the clear leader in secure hybrid work. Our market-leading platform offers secure, reliable access to all the applications and information employees need to get work done, from the point they need it. By merging with Tibco, we will expand this platform and the results our customers achieve. With Tibco we will be able to operate at a larger scale and offer a broader range of solutions to a larger customer base to accelerate their digital transformations and enable them to deliver the future of hybrid working. As a private company, we will have greater strategic and financial flexibility to invest in high-growth opportunities, such as DaaS, and accelerate your transition to the cloud, already underway.«.

Calderoni has also recalled that «Today’s announcement is the culmination of a five-month strategic review process that has included input from potential buyers, both financial and strategic. This transaction offers our shareholders immediate and significant cash value. Additionally, this investment by Vista and Evergreen is a testament to the value Citrix has created and the reputation our team has built.«.

Related Articles

Leave a Reply

Your email address will not be published.