Evergreen Coast Capital Corp. and Vista Equity Partners, the parent company of analytics vendor Tibco, will combine Citrix and Tibco upon completion of the acquisition of Citrix for $16.5 billion in cash.
Based in Fort Lauderdale, Florida, Citrix provides digital workspace technology that enables organizations to secure, manage and monitor a host of different technologies.
The merger will join Citrix's secure digital workspace and application delivery platform with Tibco's data management and analytics capabilities.
Dan Streetman, CEO of Tibco, said that the acquisition of Citrix stems in part from the changing nature of the workforce, with many more people now working from home due to the COVID-19 pandemic.
Tibco is a data management and analytics vendor which operates three interconnected portfolios that combine to create what it calls ‘Hyperconverged Analytics’. Its Predict portfolio includes its business intelligence suite, while the Connect portfolio is made up of its cloud capabilities and the Unify portfolio addresses data management.
Despite becoming a subsidiary of Vista and combining with Tibco, Citrix will continue to operate under the Citrix name and brand.
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