Citrix Provides Update on Pending Acquisition by Affiliates of Vista Equity Partners and Evergreen Coast Capital
July 11 2022 - 4:05PM
Business Wire
Citrix Systems, Inc. (NASDAQ: CTXS) (“Citrix”) today provided an
update on the approval process and timeline for the pending
acquisition of Citrix by affiliates of Vista Equity Partners
(“Vista”) and Evergreen Coast Capital Corporation (“Evergreen”), an
affiliate of Elliott Investment Management L.P. In April 2022,
Citrix shareholders voted to approve the pending acquisition
pursuant to which Citrix shareholders will receive $104.00 per
share in cash.
The parties are awaiting receipt of the final regulatory
approvals required to complete the transaction, which is currently
expected to close in the third quarter of 2022. Upon completion of
the transaction, Citrix’s shares will no longer trade on the
Nasdaq, and Citrix will become a private company. As previously
announced, in connection with the transaction, Vista and Evergreen
intend to combine Citrix and TIBCO Software (“TIBCO”), one of
Vista’s portfolio companies.
Vista and Evergreen also announced today that, upon closing of
the transaction, Tom Krause will assume the role of CEO of the
combined company. Mr. Krause previously served as an executive
officer of Broadcom Inc., and most recently was responsible for
forming and leading the Broadcom Software Group as President,
before which he was CFO. Bob Calderoni will continue to serve as
Citrix Interim CEO and President until the completion of the
transaction.
About Citrix
Citrix (NASDAQ: CTXS) builds the secure, unified digital
workspace technology that helps organizations unlock human
potential and deliver a consistent workspace experience wherever
work needs to get done. 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.
Safe Harbor for Forward-Looking Statements
Certain statements contained in this press release 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. All statements, other than statements of
historical fact, are statements that could be deemed
forward-looking statements, including statements containing the
words “predicts,” “plans,” “expects,” “anticipates,” “believes,”
“goal,” “target,” “estimate,” “potential,” “may,” “might,” “could,”
“see,” “seek,” “forecast,” and similar words. Forward-looking
statements are based on current plans and expectations and involve
risks and uncertainties which are, in many instances, beyond
Citrix’s control, and which could cause actual results to differ
materially from those included in or contemplated or implied by the
forward-looking statements. Such risks and uncertainties include,
among others: (i) the occurrence of any event, change or other
circumstance that could give rise to the termination of the Merger
Agreement; (ii) the failure to obtain certain required regulatory
approvals to the completion of the proposed transaction or the
failure to satisfy any of the other conditions to the completion of
the proposed transaction; (iii) any difficulties of Vista or
Elliott in financing the transaction as a result of uncertainty or
adverse developments in the debt or equity capital markets or
otherwise; (iv) the effect of the announcement of the proposed
transaction on the ability of Citrix to retain and hire key
personnel and maintain relationships with its key business partners
and customers, and others with whom it does business, or on its
operating results and businesses generally; (v) the response of
competitors to the proposed transaction; (vi) risks associated with
the disruption of management’s attention from ongoing business
operations due to the proposed transaction; (vii) the ability to
meet expectations regarding the timing and completion of the
proposed transaction; (viii) significant costs associated with the
proposed transaction; (ix) potential litigation relating to the
proposed transaction; (x) restrictions during the pendency of the
proposed transaction that may impact Citrix’s ability to pursue
certain business opportunities; and (xi) the other risks,
uncertainties and factors detailed in Citrix’s filings with the
SEC, including in its Annual Report on Form 10-K, filed February
16, 2022. Citrix is providing the information in this press release
as of this date and assumes no obligations to update the
information included in this press release or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220711005487/en/
For media inquiries, contact: Karen Master, Citrix
Systems, Inc. (216) 396-4683 or karen.master@citrix.com
For investor inquiries, contact: Traci Tsuchiguchi,
Citrix Systems, Inc. (408) 790-8467 or
traci.tsuchiguchi@citrix.com
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