Citrix Systems announced that the company has entered into a definitive agreement under which Vista Equity Partners and Evergreen Coast Capital Corporation affiliates will acquire Citrix. The all-cash transaction is valued at $16.5 billion, including the assumption of Citrix debt. The company’s shareholders will receive $104.00 in cash per share, which represents a premium of 30 percent over the company’s unaffected 5-day VWAP as of December 7, 2021.
Citrix and TIBCO
The duo announced their intention to combine the company and TIBCO Software, one of Vista’s portfolio companies. The combination of Citrix’s secure digital workspace and application delivery suite with TIBCO’s real-time intelligent data and analytics capabilities will provide customers with secure application and information access and insights.
The members unanimously approved the transaction of the Citrix Board of Directors. The company shares will no longer trade on the Nasdaq when the transaction is completed, and Citrix will become a private company. Bob Calderoni, Chair of the Board of Directors and Interim Chief Executive Officer and President at Citrix said,
« Over the past three decades, Citrix has established itself as the clear leader in secure hybrid work. Our market-leading platform provides secure and reliable access to all of the applications and information employees need to get work done, wherever it needs to get done. By combining with TIBCO, we will expand this platform and the outcomes our customers achieve. Together with TIBCO, we will be able to operate with greater scale and provide a larger customer base with a broader range of solutions to accelerate their digital transformations and enable them to deliver the future of hybrid work. As a private company, we will have increased financial and strategic flexibility to invest in high-growth opportunities, such as DaaS, and accelerate its ongoing cloud transition. »