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Cloud computing and virtualization company Citrix to be acquired for $16.5B

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Citrix, a cloud computing and virtualization company used by companies including Microsoft, Google, and SAP, has revealed plans to be bought out by affiliates of global investment firm Vista Equity Partners and an affiliate of Elliott Investment Management called Evergreen Coast Capital Corporation.

The all-cash deal is valued at $16.5 billion, representing a near 30 percent premium on Citrix’s market capitalization at last Friday’s market close.

Founded in 1989, Citrix was originally known for its remote access products, but over the past few decades the company has evolved somewhat with the times, now offering myriad technologies spanning cloud computing, servers, networking, and more. One of its flagship products is Citrix Workspace, a virtualization platform that helps enterprises deploy apps and desktops remotely including securing all the devices that connect to a network. Put simply, Citrix Workspace is well-positioned to flourish in a world that has had to rapidly embrace a remote and hybrid working ethos.

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