Elliot Management prodding Citrix to seek buyers

The activist hedge fund got a seat in Citrix’s board in 2015. The company is now looking for strategic alternatives, including a potential sale.

According to people who choose to remain anonymous, Citrix Systems Inc, is looking for strategic alternatives, which includes a potential sale.

The U.S. networking software company, provided activist hedge fund Elliott Management, a seat in its board in 2015. It had been looking to sell itself in the past, and now with a market capitalization of $13.2 billion, it is still looking for potential buyers.

Sources have revealed that although a few private equity firms have recently eyeballed Citrix, however, many have decided against the acquisition, since a leveraged buyout may not be easily achievable or profitable. Nevertheless, Thoma Bravo LLC is still showing keen interest in it, said sources.

The Goldman Sachs Group Inc has been hired by Citrix to assist in the sale process, revealed the sources who preferred the cover of anonymity since the matter is yet private.

Earlier this year, Citrix completed a deal that merges one of its units with LogMeIn, in an all-stock deal.

Elliot Management had previously pushed Citrix to its explore options for NetScaler, one of its businesses that helps speed up web-based apps.

Citrix core business is to develop virtualization software, which are used widely by companies for remote login.


Categories: Creativity, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

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