Vista Equity Partners and Evergreen Coast Capital announce the completion of the transaction to acquire Citrix Systems and combine it with TIBCO Software


AUSTIN, Texas, & MENLO PARK, Calif. – September 30, 2022Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, and Evergreen Coast Capital Corp. (“Evergreen”), an affiliate of Elliott Investment Management L.P. (together with its affiliates, collectively, “Elliott”), today announced the successful completion of their previously announced transaction to acquire Citrix Systems, Inc. (NASDAQ: CTXS) (“Citrix”) and combine it with TIBCO Software (“TIBCO”).

The transaction is valued at $16.5 billion, including the assumption of Citrix debt, and follows the receipt of all regulatory approvals and compliance with all closing conditions. The transaction closed in accordance with the economic terms previously set forth and within the previously announced timeline. Under the terms of the agreement, Citrix shareholders will receive $104.00 in cash per share. With the completion of this deal, Citrix common stock has ceased trading and is no longer listed on the NASDAQ Stock Market.

Tom Krause, CEO of the combined company, said: “We are excited to create a new global leader in enterprise software, designed for scale and growth, through the combination of Citrix and TIBCO. The platform we have built will expand and deepen our relationships with our valued customers and partners, drive the future of mission-critical cloud software solutions and create long-term value for all our stakeholders.”

Monti Saroya, Co-Head of Vista's Flagship Fund and Senior Managing Director, and John Stalder, Managing Director at Vista, said: “The completion of this transaction marks the beginning of a new chapter for both Citrix and TIBCO. We look forward to our partnership with Tom, the management team and the combined company’s talented employees around the world as they continue to innovate and transform the enterprise software landscape and capture the enormous opportunity ahead.”

David Kerko, Head of North American Private Equity at Elliott, and Isaac Kim, Senior Managing Director at Evergreen, said: “The combined company is well positioned for long-term success, leveraging the individual strengths of both Citrix and TIBCO, each established industry leaders. We are pleased to partner with all our valued employees and partners to realize the immense potential of the combined company going forward.”

“The platform we have built will expand and deepen our relationships with our valued customers and partners, drive the future of mission-critical cloud software solutions and create long-term value for all our stakeholders.”

Tom Krause

About Vista Equity Partners

Vista is a leading global investment firm with $96 billion in assets under management as of March 31, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista's investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.

About Elliott and Evergreen

Elliott Investment Management L.P. manages approximately $55.7 billion of assets as of June 30, 2022. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Evergreen Coast Capital Corp. is Elliott’s Menlo Park affiliate, which focuses on technology investing.

Media Contact:

For Citrix and TIBCO media inquiries, contact:
Eric Armstrong, Citrix Systems, Inc.
(954) 267-2977 or

For Vista media inquiries, contact:
Brian W. Steel, Vista Equity Partners
(512) 730-2400

For Elliott and Evergreen media inquiries, contact:
Stephen Spruiell, Elliott Investment Management, L.P.
(212) 478-2017 or

Frequently asked questions

Cloud Software Group provides mission-critical software to enterprises at scale. It is the company that owns Citrix and TIBCO, created after Vista Equity Partners and Evergreen Coast Capital Corp., an affiliate of Elliott Investment Management L.P., acquired Citrix and combined it with TIBCO. Citrix, TIBCO, NetScaler, Jaspersoft, ibi, and ShareFile are all brands under the Cloud Software Group name.

Citrix and TIBCO are business units within the Cloud Software Group portfolio. Additionally, major solution lines from Citrix and TIBCO will also exist as separate business units within Cloud Software Group, including NetScaler, ShareFile, and TIBCO’s Enterprise Applications, which include Jaspersoft and ibi.

Citrix and TIBCO offer capabilities that address different use cases for partners and customers. The focus of Cloud Software Group is to deliver mission-critical business capabilities that greatly enhance enterprises’ ability to compete and excel in a rapidly changing, data-centric world. Every customer and partner will benefit from the investment in solutions and capabilities that explicitly address the challenges they face now and in the future.

Citrix and TIBCO will operate as separate business units and continue to innovate in their core areas, including Desktop-as-a-Service (DaaS), Virtual Desktop Infrastructure (VDI), application delivery, collaboration, security, networking, integration, data management, and analytics solutions. You should continue to engage with the support, success, account, and related teams with whom you are currently working.

Each business unit will retain the branding of its original business.