Citrix Systems is to be acquired by affiliates of Vista Equity Partners (Vista), a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, and Evergreen Coast Capital Corporation (Evergreen), an affiliate of activist hedge fund Elliott Investment Management (Elliott) in an all-cash transaction valued at USD16.5 billion, including the assumption of Citrix debt.
Citrix Systems is to be acquired by affiliates of Vista Equity Partners (Vista), a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, and Evergreen Coast Capital Corporation (Evergreen), an affiliate of activist hedge fund Elliott Investment Management (Elliott) in an all-cash transaction valued at USD16.5 billion, including the assumption of Citrix debt.
Under the terms of the agreement, Citrix shareholders will receive USD104.00 in cash per share. The per share purchase price represents a premium of 30 per cent over the Company’s unaffected 5-day VWAP as of 7 December, 2021, the last trading day before market speculation regarding a potential transaction, and a premium of 24 per cent over the closing price on 20 December, 2021, the last trading day prior to media reports regarding a potential bid from Vista and Evergreen.
Vista and Evergreen intend to combine Citrix and TIBCO Software (TIBCO), one of Vista’s portfolio companies and a specialist in enterprise data management.
