Citrix Systems (CTXS) to be acquired by Vista Equity Partners and Evergreen Coast Capital for $104 per share

Citrix Systems to be acquired by affiliates of Vista Equity Partners and Evergreen Coast Capital, an affiliate of Elliott, for $16.5 bln; Citrix shareholders will receive $104.00 in cash/share

• Vista and Evergreen plan to combine Citrix and TIBCO Software, one of Vista's portfolio companies.
  

• Under the terms of the agreement, Citrix shareholders will receive $104.00 in cash per share. The per share purchase price represents a premium of 30 percent over the Company's unaffected 5-day VWAP as of December 7, 2021, the last trading day before market speculation regarding a potential transaction, and a premium of 24 percent over the closing price on December 20, 2021, the last trading day prior to media reports regarding a potential bid from Vista and Evergreen.
• In connection with the transaction, Vista and Evergreen intend to combine Citrix and TIBCO Software ("TIBCO"), one of Vista's portfolio companies. TIBCO is a global leader in enterprise data management, empowering its customers to connect, unify, and confidently predict business outcomes. The combination brings together Citrix's secure digital workspace and application delivery suite with TIBCO's real-time intelligent data and analytics capabilities to empower customers and users with the secure application and information access and insights they need to accelerate digital transformation and navigate the hybrid workplace.
• The transaction, which has been unanimously approved by the members of the Citrix Board of Directors voting on the matter, is expected to close mid-year, subject to customary closing conditions, including approval by Citrix shareholders and receipt of regulatory approvals. The transaction is not subject to a financing condition. Upon completion of the transaction, Citrix's shares will no longer trade on the Nasdaq, and Citrix will become a private company. Citrix will continue to operate under the Citrix name and brand, and will remain headquartered in Fort Lauderdale, FL.

Citrix Systems beats by $0.40, beats on revs

Reports Q4 (Dec) earnings of $1.47 per share, excluding non-recurring items, $0.40 better than the S&P Capital IQ Consensus of $1.07; revenues rose 5.0% year/year to $850.9 mln vs the $830.04 mln S&P Capital IQ Consensus.