As announced at the time of the deal, Citrix Systems will be delisted from NASDAQ and combined with Tibco Software, an enterprise data management and analytics provider, which has been a portfolio company of Vista Equity Partners
Vista Equity Partners and Elliott Investment Management completed their previously announced $16.5bn acquisition of Citrix Systems, an American cloud computing and virtualisation technology company.
The consideration includes the assumption of Citrix Systems’ debt.
As per the terms of the deal announced in January 2022, shareholders of Citrix Systems were offered an amount of $104 in cash per share.
Elliott Investment Management has participated in the deal through its affiliate, Evergreen Coast Capital, which focuses on investing in technology.
Following the transaction, Citrix Systems has been delisted from the NASDAQ stock market.
As announced at the time of the deal, Citrix Systems will be combined with Tibco Software. The latter is an enterprise data management and analytics provider, which has been a portfolio company of Vista Equity Partners.
The combined company CEO Tom Krause said: “We are excited to create a new global leader in enterprise software, designed for scale and growth, through the combination of Citrix and TIBCO.
“The platform we have built will expand and deepen our relationships with our valued customers and partners, drive the future of mission-critical cloud software solutions and create long-term value for all our stakeholders.”
The combination of Citrix Systems and Tibco Software is said to bring together the former’s secure digital workspace and application delivery suite and the real-time intelligent data and analytics capabilities of the latter.
Vista Flagship Fund co-head and Vista Equity Partners senior managing director Monti Saroya and Vista Equity Partners managing director John Stalder said: “The completion of this transaction marks the beginning of a new chapter for both Citrix and TIBCO.
“We look forward to our partnership with Tom, the management team and the combined company’s talented employees around the world as they continue to innovate and transform the enterprise software landscape and capture the enormous opportunity ahead.”