HomeBusinessElliott, Vista Equity to buy software firm Citrix in $16.5 billion deal

Elliott, Vista Equity to buy software firm Citrix in $16.5 billion deal

Hedge fund Elliott Management and funding firm Vista Equity Partners have agreed to buy Citrix Systems in a deal valued at $16.5 billion, the cloud computing firm stated on Monday.

Reuters reported on Sunday that Elliott and Vista had been nearing a $13 billion deal for Citrix, citing an individual acquainted with the matter, as they search to faucet the pandemic-driven growth in cloud computing.

Under the phrases of the deal, Citrix shareholders will obtain $104 in money per share, implying an fairness worth of practically $13 billion, in accordance to a Reuters calculation.

This represents a premium of 24.3per cent to Citrix’s shut on Dec. 20, when talks of a joint bid had been first reported.

The patrons stated they intend to mix Citrix and Vista’s information analytics firm, TIBCO Software, after taking Citrix non-public.

(Reporting by Chavi Mehta in Bengaluru; Editing by Ramakrishnan M.)

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