Citrix is renamed as the Cloud Software group
By MYBRANDBOOK
Citrix Systems, Inc. was an American multinational cloud computing and virtualization technology company that provides server, application and desktop virtualization, networking, software as a service (SaaS), and cloud computing technologies. Citrix products were claimed to be in use by over 400,000 clients worldwide, including 99% of the Fortune 100, and 98% of the Fortune 500.
Vista Equity Partners and Evergreen Coastal Capital Corp. completed the $16.5 billion Citrix acquisition. Immediately following the deal's close, the firms launched the Cloud Software Group that will oversee the merger of Citrix and TIBCO.
Citrix technology enables service providers to provide Desktop as a Service (DaaS) offerings to their customers, including business apps and desktops.[86] These products include: Worx Mobile Apps for secure email, browser, and document sharing;[94] and Citrix Workspace Suite for mobile workspaces. It was acquired by Vista Equity Partners and Evergreen Coast Capital Corp on September 30, 2022 and merged into TIBCO Software.
The newly formed company Cloud Software Group's website(www.cloud.com)doesnot provided any details on the combined company's products. It speaks about the management team led by CEO Tom Krause, former president of semiconductor company Broadcom.
In September 2022, Citrix announced a $4.55 billion-equivalent cross-border term loan to back Vista Equity and Evergreen Coast Capital’s $16.5 billion buyout of Citrix and merger with Vista portfolio company TIBCO Software.
We are excited to create a new global leader in enterprise software, designed for scale and growth, through the combination of Citrix and TIBCO," Tom Krause said in a statement.
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