(Reuters) Elliott Management Corp. and Vista Equity Partners are reportedly closing a deal to take Citrix Systems Inc. private for around $13 billion.
The reported cash bid will value Citrix at $104 per share, a premium to the company’s lows in December but slightly below Friday’s closing of $105.55.
Once the deal is done, Vista will merge the US cloud computing company with Tibco, another data analytics firm.
The deal comes after Citrix interim CEO Robert Calderoni said, during the quarterly earnings call, that the company did not capitalize on remote working during the pandemic after investing heavily in its salesforce. The company’s cloud services still increased during the pandemic.
Citrix reported an operating income of $84.5 million in the third quarter, below $128.3 million reported a prior year.
CTXS: NASDAQ is down -2.79%.
