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Group of investors closes the purchase of Citrix and merges it with Tibco

The investor group Cloud Software Group (CSG)made up of investment firms Vista Equity Partners and Evergreen Coast Capital Corp (a subsidiary of Elliot Investment Management) has announced the closing of the purchase of Citrix, for which they have finally paid 16,500 million dollars. In addition, in the statement in which they communicate the operation, the investment group confirms that in addition Citrix has merged with enterprise application provider Tibco Software.

With the end of the operation, the investors have also removed Citrix from the NASDAQ, and their shareholders will receive 104 dollars in cash each for each of the titles they own.

The CEO of the company resulting from the merger between Citrix and Tibco will be Tom Krause, which left Broadcom after the company announced its purchase of VMware. Krause has described the new company that he will have under his baton as «a new global leader in enterprise software, designed for scale and growth, through the combination of Citrix and Tibco«.

According to Krause, the platform they have developed «will expand and deepen our relationships with our valued customers and partners, drive the future of mission-critical software solutions, and create long-term value for all of our stakeholders«.

As confirmed in the closing statement of the operation, both Citrix and Tibco, despite being part of the same company, will function as two independent business divisions. The same will happen with its main lines of business: they will be separated from each other. In this way, both NetScaler and ShareFile, from Citrix, as well as ibi and Jaspersoft, from Tibco, will continue to be available. The two entities, now converted into areas of the same company, will also continue to retain their brands.

Hector Lima, who until now was the Vice President and Chief Customer Officer of Citrix, will now be Vice President of Field Sales and Channel of CSG, in charge of “the global sales, channel ecosystem and customer experience organization”.

Other CSG directors will include Tibco CIO Rani Johnson, who will serve in the same role at CSG, and Tibco CFO Tom Berquist, who will also be its CIO. Citrix Product Manager Shridar Mullapudi will serve as CEO of Citrix, and Tibco COO Matt Quinn will serve as CEO of Tibco.

NetScaler’s CEO will now be Abhilash Verma, previously vice president of product management for Citrix application delivery and security. As for Ali Ahmed, Vice President of Engineering at Tibco, he will be General Manager of Enterprise Applications at CSG.

Mind you, while Citrix and Tibco have merged, a hitherto Citrix subsidiary acquired in 2021, Wrike, has officially spun off from the companycounting on the financial backing of Vista and Evergreen.

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