Featured Image by UC Today
Citrix has struggled to transition into a subscription-based business. The demand for its cloud services soared during the pandemic. First, Equity Partners in Elliott Management Corp. are buying cloud computing company Citrix Systems Inc. for reportedly $13 billion.
LER Investor Dead jointly tapped the loan market to fund the bed for Citrix at $104 per share. After making Citrix private, Vista plans to merge it with their other data analytics firm, Tibco.
Normally Citrix products help employees access the company network remotely, They did fail to capitalize on the rise of remote work during the COVID-19 pandemic, which was very unfortunate because these people are known for making great products.
They have already struggled with the transition to a subscription-based business as the demand for their cloud services marginally increased during the pandemic. Also, Companies like Citrix with predictable revenues have become one of the most targeted companies for private equity firms.
