Citrix to be Acquired by Affiliates of Vista Equity Partners and Evergreen Coast Capital for $16 5 Billion

Scotiabank analyst Ovais. 7 billion of assets as of June 30, 2022. Over the last decade, we have created a collaborative work management category and brought several cornerstone innovations to it. In 2014, Citrix acquired Framehawk and used its technology to improve the delivery of virtual desktops and applications over wireless networks. Global Director of Communications Culture and Citizenship. 7 Elliott estimates, based on a constant unlevered valuation multiple and assumes Citrix’s status quo share repurchase plan of approximately $400 million per year. Unlocks the potential of real time data for making faster, smarter decisions. Certain statements contained in this communication may constitute forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With Microsoft’s planned acquisition of Activision Blizzard at $69 billion, 2022 is on track to be another huge year, albeit I see valuations continuing to compress based upon fed actions and a general cautious sentiment around inflation and tech valuations. Henshall stepped down in October 2021, and Calderoni was again named interim CEO. Phone: +27 11 875 6400Fax: +27 11 463 0601. Citrix Systems International GmbH was set up on Tuesday the 13th of April 1999. The company tapped Chairman Bob Calderoni as interim CEO. With Citrix, users get a seamless work experience and IT has a unified platform to secure, manage, and monitor diverse technologies in complex cloud environments. As a result, the upside potential doesn’t justify the risk. By doing so, you and %USER NAME% will not be able to seeany of each other’s Investing. Paul Singer has landed in a once in a cycle opportunity. David Henshall became the company’s CEO in July 2017. Citrix Sistemas do BrasilRua Professor Atílio Innocenti, 165 13 andarItaim Bibi 04538 000São Paulo SPBrasilMap and Directions. NASDAQ: CTXS “Citrix” and combine it with TIBCO Software “TIBCO”. The company is being acquired for $104 a share. Other company, product, or service names may be trademarks or service marks of others. Notice: We appreciate your interest in Latham and Watkins. True, if the market were so bad that the banks couldn’t sell it at all Elliott wouldn’t be able to close its purchase of Citrix.

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Io Terms and Conditions. The banks will be pleased to get shot of a burden on their balance sheets. Vista’s investments are anchored by a sizable long term capital base, experience in structuring technology oriented transactions and proven, flexible management techniques that drive sustainable growth. The company added a pizza oven for custom pies on its menu, and also serves smoothies, soups, wraps, sandwiches and sushi. Our Connected Intelligence platform seamlessly connects any application or data source; intelligently unifies data for greater access, trust, and control; and confidently predicts outcomes in real time and at scale. Citrix Systems is being acquired by Evergreen Coast Capital an affiliate of Elliott Management and Vista Equity Partners for $16. Editing by Josie Kao. Full Company Vitals, including Directors and Mortgages. Elliott previously took a stake in Citrix in 2015 and held a seat on its board until last spring. We thank Bob and Dan for their enormous contributions over the years, which have allowed Citrix and TIBCO to be in the strongest possible position as they prepare to join together. Smith joined Invest Like the Best’s Patrick O’Shaughnessy to discuss Vista’s engineered approach to software investing. The definitive proxy statement will be filed with the SEC and mailed or otherwise made available to Citrix securityholders. “In August I heard lots of big asset managers putting in big tickets and they were excited to get a big coupon,” the lender said. Phone: +41 52 63577 00Fax: +41 52 63577 11. The software developer revealed financial. “Citrix and TIBCO provide mission critical software and services to many the world’s most successful businesses, and we see tremendous value in combining their respective world class offerings to help companies gather insight from the growing volumes of data generated by the hybrid work economy. That same month the company announced that president and CEO Mark Templeton would retire after a replacement was found, and on October 21, the company named its executive chairman, Robert Calderoni, as interim president and CEO. A consortium of private equity firms, including Elliott Management Corp. Sorry, this content is unavailable due to your privacy settings. WSJ News Exclusive Big Aerospace Contractors Bet On Space Refueling StartupNorthrop Grumman and Lockheed Martin have invested in startup Orbit Fab, which plans to launch two refueling shuttles as early as next year.

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Smith admitted to criminal tax evasion and agreed to pay $139 million in back taxes and penalties. Labor Day holiday due to market volatility. Of $4 billion aggregate principal amount of its 6. Data governance is an essential task to perform during the project implementation. As a private company, we will have increased financial and strategic flexibility to invest in high growth opportunities, such as DaaS, and accelerate its ongoing cloud transition. XenMobile offers mobile app and device management, Citrix Receiver is a client software that allows universal access to virtual applications and desktops, and AppDNA, software that provides application migration and management. Elliott and certain of its affiliates, which hold an approximately 12% interest in Citrix through a combination of outstanding shares of Citrix common stock and derivatives, have entered into a voting agreement with Citrix, pursuant to which they have agreed, among other things, to vote their shares of Citrix common stock in favor of the transaction. Steel, Vista Equity Partners +1 512 730 2400. Tom Krause most recently served as President of the Broadcom Software Group, overseeing the company’s six software divisions as well as software sales, customer support and software operations. Its shares closed Friday at $105. Was founded in 1977, making it one of the oldest funds under continuous management. Acquisition will take Citrix private, allowing company to accelerate its SaaS transformation, increase investment, and expand platform for secure hybrid work. ARCOS, a leader in workforce management solutions for utilities and other critical infrastructure industries, has acquired Treverity and its analytics EBIZ Technical Support and collaboration platform Utility Insight, which helps utilities understand their blue and gray sky operations in real time and take action from a single pane of glass. Krause previously served as an executive officer of Broadcom Inc. © 2023 Davis Polk and Wardwell LLP. IT should communicate with end users to set expectations about what personal. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 6 for Citrix partners. The net proceeds of the notes, together with borrowings under new credit facilities and proceeds from the sale of preferred stock, were provided to a consortium led by Vista Equity Partners Management LLC and Evergreen Coast Capital Corp. Please drop me an email. Big asset managers like Blackstone or Apollo Global Management, in contrast, have separate credit and equity funds that answer to separate investors, and could end up at odds with each other if things go bad. Enrich the conversation, don’t trash it. © 2023 Davis Polk and Wardwell LLP. NASDAQ: CTXS the “Company” or, “Citrix”, making us one of your largest stockholders. We usecookiesand other data for a number of reasons, such as keeping FT Sites reliable and secure,personalising content and ads, providing social media features and toanalyse how our Sites are used.

Citrix

Investors and securityholders of Citrix are urged to read carefully and in their entirety the proxy statement and any other relevant materials filed or that will be filed with the SEC when they become available because they contain or will contain important information about the transaction and related matters. Citrix’s David Henshall in October stepped down as president and chief executive after investor pressure to explore a sale of the company. Save my name, email, and website in this browser for the next time I comment. Australia, India, Japan, Greece and the United Kingdom. Indeed, it has drawn the attention of private equity firms and industry competitors in the past, though no deal was struck. 55 billion equivalent cross border term loan to back Vista Equity and Evergreen Coast Capital’s $16. The RIPE NCC uses cookies. The banks will be pleased to get shot of a burden on their balance sheets. Key articles, selected by the editors. But Citrix has had some success lately, benefiting along with peers as more daily life takes place on the cloud and as the number of people working remotely soars. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Elliott is an investment firm founded in 1977 that today manages more than $26 billion of capital for both institutional and individual investors. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista Equity. Based in Austin, Texas, Vista manages more than $86 billion in assets and its chief executive, Robert Smith, is the wealthiest Black person in the U. Citrix to combine with Vista portfolio company TIBCO Software to create global digital workspace and data analytics leader. Sorry, there were no matching results for ”. When his hedge fund, Elliott Management, and private equity firm Vista Equity Partners agreed to acquire technology company Citrix Systems CTXS for $16. Citrix is providing the information in this communication as of this date and assumes no obligations to update the information included in this communication or revise any forward looking statements, whether as a result of new information, future events or otherwise. © 2023 Davis Polk and Wardwell LLP. The company started trading on 19 April 1999. Elliott recently informed Citrix CTXS it has a stake of more than 10% in the company and would like to work with it to improve its valuation, the people said. 6 per cent premarket on Monday but have risen more than one quarter since the initial report. It has been involved with Citrix for several years. Results referenced are current as of November 8, 2017. Session Logon Duration: Logon duration is the app or desktop availability after the user clicks in the Citrix Workspace app.

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It holds a more than 10% stake worth over $1 billion and had been pushing it to take steps to boost its share price, The Wall Street Journal reported in September. Through a leveraged buyout, two U. You can call CITRIX SYSTEMS INTERNATIONAL GMBH at the following number +353180. Vista is a leading global investment firm with more than $86 billion in assets under management as of September 30, 2021. When his hedge fund, Elliott Management, and private equity firm Vista Equity Partners agreed to acquire technology company Citrix Systems for $16. This story originally appeared in The Wall Street Journal. The workplace has changed forever, and companies everywhere will require real time access to faster, smarter insights from the increasingly large volumes of data available to them, their employees, and their ecosystems. When his hedge fund, Elliott Management, and private equity firm Vista Equity Partners agreed to acquire technology company Citrix Systems for $16.

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The transaction features a first call at par plus 50% of the coupon rate, an up to 40% equity clawback for the first three years and a change of control put provision at 101. Was founded in 1977, making it one of the oldest funds under continuous management. As a result, this could affect the success of the LBO. Certain statements contained in this communication may constitute forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Dieser Artikel wurde maschinell übersetzt. S private equity arm, Evergreen Coast Capital, and Vista Equity Partners are near an agreement to pay $104 a share for the software company, according to people familiar with the matter. Didi, the world’s largest ride hailing company, saw its shares dropping over 7%, while Pinduoduo lost 2. That same month the company announced that president and CEO Mark Templeton would retire after a replacement was found, and on October 21, the company named its executive chairman, Robert Calderoni, as interim president and CEO. Citrix, like many legacy software companies, has had a rocky transition to a subscription based model for its core virtual desktop services. Vista’s investments are anchored by a sizable long term capital base, experience in structuring technology oriented transactions and proven, flexible management techniques that drive sustainable growth. While best known for its activist investments, Elliott has been expanding its private equity practice. Steel, Vista Equity 512 730 2400. Multiple executives involved in the deal offered prepared comments about the Citrix buyout and expected merger with Tibco. Indeed, it has drawn the attention of private equity firms and industry competitors in the past, though no deal was struck. Elliott Investment Management, L.

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Ortenca Aliaj and Antoine Gara in New York and Dave Lee in San Francisco. View source version on businesswire. For Elliott and Evergreen media inquiries: Stephen Spruiell, Elliott Investment Management, L. Representatives of Citrix and the Cloud Software Group declined to be interviewed for this article. “Citrix and TIBCO provide mission critical software and services to many the world’s most successful businesses, and we see tremendous value in combining their respective world class offerings to help companies gather insight from the growing volumes of data generated by the hybrid work economy. This material may not be published, broadcast, rewritten, or redistributed. In the room is a price of 13 billion US dollars. Vista is a leading global investment firm with $96 billion in assets under management as of March 31, 2022. Citrix produces software that allows employees to gain virtual access to desktops and other cloud capabilities. When private equity firms Vista Equity Partners and Elliott Investment Management announced their buyout of Citrix in January, getting in on the debt financing was a coup for the underwriters amid an era of megadeals. Vista Equity Partners “Vista”, a leading global investment firm focused exclusively on enterprise software, data and technology enabled businesses, and Evergreen Coast Capital Corp. 1 billion in EBITDA due to cost savings. Is currently underway and being discussed with steep pricing discounts. News StaffJuly 6, 2021. Team collaboration is a communication and project management approach that emphasizes teamwork, innovative thinking and equal. Interest from private credit funds has fallen, as the amount of money that investors are willing to commit to the deal has declined. Citrix gave Cloudstack to the Apache Foundation in 2012 and Xen hypervisor to the Linux Foundation in 2013. Vista Equity Partners. Source: Great Place To Work® 2021 Global Employee Engagement Study. Additionally, Citrix may file other relevant materials in connection with the transaction with the SEC. Citrix has been exploring options including a potential sale, Bloomberg News reported in September. These tools allow access to Windows desktops and applications independently of the machine they are actually on, and from any device with any operating system. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Later, in August, Microsoft commercially released its Windows 365 DaaS offering, which possibly simplified remote desktop access for organizations in comparison with the Azure Virtual Desktop service. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time. In connection with their acquisition of Citrix Systems, Inc. All this are managed by their cloud management software Citrix Cloud. The cost of borrowing has spiked since the lenders committed to provide the financing in January, jumping well above the maximum that they had agreed to. Investors and securityholders of Citrix are urged to read carefully and in their entirety the proxy statement and any other relevant materials filed or that will be filed with the SEC when they become available because they contain or will contain important information about the transaction and related matters.

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Read more: Wall Street Banks Set to Lose About $600 Million on Citrix Debt. International Edition. “Banks have basically gone on hold,” the head of a large firm that buys syndicated bank debts said. The Citrix vision of anytime, anywhere, any device access has remained consistent while the technologies behind it have steadily evolved. Elliott Investment Management bills itself as a fund manager and asset investment firm with a focus on “risk management” and “opportunistic trading. 31, 2022 – Citrix Systems, Inc. Citrix Files for XenMobile. That trend appears poised to continue. Following its initial setup and development, Iacobucci moved the company to his former home of Coral Springs, Florida. Business: Citrix is an enterprise software company that provides workspace, app delivery and security, and professional services worldwide. David Marcus, Chris Nolter and Ron Orol contributed. 95 billion of second lien debt, which replaced earlier commitments of the same size intended to be sold as unsecured bonds, Bloomberg reported. Buyers need to request access to the confidential information system to join this contract. Paste up to 500,000 IPs to see where they’re located on a map. The company said in November that annualized recurring revenue in its third quarter grew 13% from a year earlier. Tighter external securityCitrix Analytics generates a threat index based on violation type, rate of attack, location, and client details.