Citrix has joined forces with Tibco Software following a buyout by affiliates of Vista Equity Partners. The $16.5bn deal sees Evergreen Coast Capital Corporation, an affiliate of Elliott Investment Management, and Vista combine Citrix and Tibco Software.
Vista Equity Partners said that the combination brings together Citrix’s secure digital workspace and application delivery suite with Tibco's real-time intelligent data and analytics capabilities.
“Over the past three decades, Citrix has established itself as the clear leader in secure hybrid work,” said Bob Calderoni, chair of the Citrix board of directors and interim CEO and president.
“Our market-leading platform provides secure and reliable access to all of the applications and information employees need to get work done, wherever it needs to get done. By combining with Tibco, we will expand this platform and the outcomes our customers achieve.
“Together with Tibco , we will be able to operate with greater scale and provide a larger customer base with a broader range of solutions to accelerate their digital transformations and enable them to deliver the future of hybrid work.
“As a private company, we will have increased financial and strategic flexibility to invest in high-growth opportunities, such as DaaS (desktop as a service), and accelerate its ongoing cloud transition.”
Dan Streetman, CEO of Tibco, said: “There has never been a better time to be in the business of connected intelligent analytics, and we’re thrilled to bring our industry-leading solutions to Citrix’s global customers.
“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. I couldn’t be more excited about our combined vision, and I look forward to a strong partnership.”
Vista Equity Partners said that the union will accelerate Citrix’s defined growth strategy and SaaS transition. The combined company will be positioned to provide complete, secure and optimised infrastructure for enterprise application and desktop delivery and data management to advance hybrid cloud IT strategies and meet the needs of the modern enterprise.
“We have always viewed Citrix as a true technology pioneer, building and defining so many categories that have changed the landscape of the industry,” said Monti Saroya, co-head of Vista’s Flagship Fund and senior managing director.
“As a private company, Citrix will have access to additional resources and support, as well as more flexibility to take advantage of strong secular tailwinds with trends supporting modern and secure remote hybrid work to serve the combined customer base and invest in high-growth markets.”
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