Cloud Computing and Virtualization Company Citrix To Be Acquired for $16.5B

Citrix, a cloud computing and virtualization company used by companies including Microsoft, Google, and SAP, has revealed plans to be acquired by affiliates of global investment firm Vista Equity Partners, and an affiliate of Elliott Investment Management called Evergreen Coast Capital Corporation.

The all-cash deal is valued at $16.5 billion, representing a near 30 percent premium on Citrix’s market capitalization before rumors of a possible deal first started to emerge last month. Founded in 1989, Citrix was originally known for its Windows-based remote access products, but over the past few decades the company has evolved endeavored to move with the times, and now offers myriad technologies spanning cloud computing, servers, networking, and more.