New Delhi [India], July 5 (ANI): The Competition Commission of India (CCI) has approved the acquisition of Citrix Systems Inc (Citrix) by funds managed by Vista Equity Partners Management (Vista) and funds and investment vehicles managed by Elliott Investment Management (Elliott), the Ministry of Finance said on Tuesday.
"The proposed combination relates to acquisition of Citrix by funds managed by Vista and funds and investment vehicles managed by Elliot approved by the Commission in its meeting held on 17th June, 2022," the Union Finance Ministry said in a statement.
The proposed combination will be implemented pursuant to an Agreement and a Plan of Merger entered into and among Citrix, Picard Parent, Picard Merger Sub, Inc. (a wholly-owned subsidiary of Picard Parent) and TIBCO Software Inc (TIBCO).
Specifically, TIBCO, a Vista-controlled portfolio company will combine with Citrix, and Vista and Elliott will ultimately acquire joint control of the combined Citrix/TIBCO business, the ministry said.
Citrix is a multinational enterprise software company headquartered in Florida, United States of America. Citrix is focused on helping organisations deliver a consistent and secure work experience.
Citrix delivers a digital workspace solution that provides unified, reliable and secure access to all work resources (apps, content, etc) and simplifies work execution and collaboration across every work channel, device, and location. Broadly, Citrix is mainly active in (i) desktop virtualisation space, (ii) workspace solutions, and (iii) networking and IT security software.
Vista is a US-based investment firm focused on empowering and growing enterprise software, data and technology-enabled businesses. Vista controls a number of portfolio companies that are active in the provision of IT services such as the provision of business software.
Elliott is a US-based investment firm whose flagship fund, Elliott Associates, L.P., was founded in 1977.
Elliott employs a multi-strategy trading approach that encompasses a broad range of strategies, including, without limitation: equity-oriented, private equity and private credit, distressed securities, non-distressed debt, hedge/arbitrage, real estate-related securities, commodities trading and portfolio volatility protection. (ANI)