Vista Equity Partners, a global investment firm focused exclusively on enterprise software, data and technology-enabled business, and Evergreen Coast Capital, an affiliate of Elliott Investment Management LP, has entered into a deal to acquire Citrix in an all-cash deal. For $16.5 billion, including debt collection from Citrix.
Vista and Evergreen intend to combine Citrix and TIBCO Software, one of the companies of the Vista group.
TEPCO is a global provider of enterprise data management software that helps customers connect, standardize, and predict business outcomes with confidence. This combination of Citrix’s secure digital workspace and application delivery suite combines with real-time intelligent data and analytics capabilities from TIBCO to support customers and users with a secure application and access the information and insights they need to accelerate digital transformation and mobility in the hybrid workplace.
The companies say this consortium will create one of the world’s largest software providers, serving 400,000 customers, including 98% of the Fortune 500, with 100 million users in 100 countries. Furthermore, it will accelerate Citrix’s defined growth strategy and SaaS transition. The combined company will be positioned to provide a complete, secure, and optimized enterprise application, desktop delivery, and data management infrastructure to enhance hybrid cloud IT strategies and meet the needs of the modern enterprise.
“Over the past three decades, Citrix has established itself as a clear leader in secure hybrid work. Our market-leading platform provides secure, reliable access to all the applications and information employees need to get work done, wherever they need to do it,” said Bob Calderoni, Citrix Chairman and President. Interim Executive and President, By merging with TIBCO, we will expand this platform and the results our customers achieve.In cooperation with TIBCO, we will be able to operate on a larger scale and provide a larger customer base with a broader range of solutions to accelerate digital transformations and enable them to deliver the future of hybrid work.As a company In particular, we will increase our financial and strategic flexibility to invest in high-growth opportunities, such as DaaS, and accelerate our ongoing cloud transition.”
Dan Streitman, CEO, TEPCO, added: “There has never been a better time to work in connected intelligence, and we are thrilled to offer our industry-leading solutions to Citrix’s global customers. The workplace has changed forever, and businesses everywhere will require real-time access. to faster and smarter insights from the increasingly large amounts of data available to them, their employees, and their ecosystems. I couldn’t be more excited about our shared vision and look forward to a strong partnership.”
The transaction, which was approved unanimously by Citrix board members voting on the matter, is expected to close in the middle of the year, subject to usual closing conditions, including approval by Citrix shareholders and receipt of regulatory approvals. The transaction is not subject to financing terms. Upon completion of the transaction, Citrix shares will no longer be traded on the Nasdaq, and Citrix will become a private company. Citrix will continue to operate under the Citrix name and brand, and will remain headquartered in Fort Lauderdale, Florida.
Elliott and some of its subsidiaries, which own approximately 12% of Citrix’s interest through a combination of outstanding shares of Citrix common stock and its derivatives, entered into a voting agreement with Citrix, whereby they agreed, among other things, to vote their shares of stock Regular Citrix in favor of the deal.
Elliott and some of its subsidiaries, which own about 12% stake in Citrix.
For more information, go to www.citrix.com, www.vistaequitypartners.com and www.tibco.com.