Vista to Acquire Citrix Systems for $16.5 Billion and Combine It with Tibco
Citrix, which has seen a decline in revenues, believes combining with Tibco will be a “game changer.”
January 31, 2022
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A leveraged buyout of Citrix Systems will bring the company together with data integration and analytics provider Tibco. Citrix revealed Monday it has agreed to be acquired by Tibco portfolio company Vista Equity Partners for $16.5 billion. Evergreen Coast Capital, the private equity arm of Elliott Management, is also part of the deal.
The acquisition, which should close in the second half of this year, will take the company private. Citrix Systems executive VP of business strategy Tim Minahan said that combining with Tibco will be “a game changer” in the desktop as-a-service (DaaS) market.
Bringing the companies together will let Citrix combine Tibco’s “connected intelligence” technology with its digital workspace platform, according to Minahan. The combined company create a software giant with 400,000 customers, including 98% of the Fortune 500, according to Citrix.
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Citrix board chairman and interim CEO Bob Calderoni added that combining the two companies’ platforms will help achieve improved hybrid work solutions.
Citrix’s Bob Calderoni