Citrix and Tibco to Merge

Citrix has been acquired by two private equity firms in an all-cash deal worth US$16.5 billion. The move will see the workplace infrastructure management vendor merged with enterprise data management vendor, Tibco.

Citrix is being acquired by Vista Equity Partners and Evergreen Coast Capital Corporation under a deal that sees its shareholders receiving $104 in cash per share. It’s a 30 per cent premium over the company’s five-year trading price to 7 December 2021. The two equity firms are also assuming all debt.

Returning to private hands was described as a move that will help Citrix accelerate its SaaS transformation, increase investment and expand its platform for secure hybrid work. Vista and Evergreen also intend to combine Citrix with Tibco Software one of Vista’s portfolio companies focused on enterprise data management.

Vista and Evergreen said the combination brings together Citrix’s secure digital workspace and application delivery suite with Tibco’s real-time intelligent data and analytics capabilities would empower customers and users with secure application and information access and insights to accelerate digital transformation and navigate the hybrid workplace. Combined, the companies serve 400,000 customers with 100 million users in 100 countries.

“Over the past three decades, Citrix has established itself as the clear leader in secure hybrid work. By combining with Tibco, we will expand this platform and the outcomes our customers achieve,” said Citrix Board of Directors chair and interim CEO and president, Bob Calderoni. “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 our ongoing cloud transition.”

The deal is expected to close mid-year, subject to customary closing conditions.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Article

Augeo Launches Loyalty Platform with Cryptocurrency

Next Article

Cyara secures $485 million investment

Related Posts

Subscribe to TheCustomer Report

Customer Enlightenment Delivered Daily.

    Get the latest insights, tips, and technologies to help you build and protect your customer estate.