After taking the publicly-listed Citrix Systems private with the help of Elliott Management, Vista Equity Partners, as per sources, is planning to merge it with data analytics software firm Tibco

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Headquarters of Citrix Systems in Santa Clara, California. (Credit: Citrix Systems Inc./Wikimedia Commons)

Elliott Management and Vista Equity Partners are reportedly on the verge of signing a deal to acquire Citrix Systems, a US-based cloud computing and virtualisation technology company, in a deal worth around $13bn.

An announcement of the deal could be made this week, reported Reuters, citing an undisclosed source having knowledge about the development.

News of the potential deal is said to have come after Elliott Management and Vista Equity Partners pinged the loan market to finance their joint cash bid for the tech firm at $104 per share.

Currently, Citrix Systems is a publicly-listed firm that trades on the Nasdaq Stock Market.

After taking the cloud computing firm private, Vista Equity Partners will pursue merging it with Tibco, a data analytics software company owned by it.

Elliott Management, which had previously taken a stake in Citrix Systems, has been in search of partners to take the latter private since October 2021, reported the publication, citing undisclosed sources.

Citrix Systems is engaged in developing secure, unified digital workspace technology for organisations to unlock human potential and provide a consistent workspace experience, irrespective of where the work needs to be executed.

The company is said to help its users gain a seamless work experience and IT with a unified platform for securing, handling, and monitoring varied technologies in complex cloud environments.

Recently, Citrix Systems had helped South Africa’s Nedbank to enable its employees whose presence is not required in a branch office to work from home on a permanent basis if desired.

Around this time in 2021, Citrix Systems had signed a $2.25bn deal to acquire California-based Wrike from Vista Equity Partners, which was subsequently closed last March. Wrike is a SaaS-based work management platform provider that helps teams and distributed workers plan, manage, and complete work at scale.