The Channel logo

News

By | Richard Chirgwin 22nd September 2015 23:56

Citrix wants a buyer, fast

'All of me, why not take all of me?' sings virty vendor

Citrix, under siege by activist fundster Elliott Management, is looking for a buyer.

Faced with the choice of carving off its flesh pound-by-pound at Elliott's behest, the US$11.6 billion company would rather find a new owner for the whole kit-and-caboodle, a Reuters report says.

The usual “people familiar with the matter” reckon Dell is among the companies Citrix has approached.

Hedge fund Elliot Management upped its stake in the company in June and immediately outlined its view of the world, claiming Citrix is undervalued and has underperformed.

A month later, CEO Mark Templeton revealed he will retire as soon as a successor is found. At the same time, Elliott senior portfolio manager Jesse Cohn grabbed himself a seat on the board.

Elliot also complained Citrix's cost structure is inefficient, the channel strategy was weak, the portfolio too broad and both the GoTo and Web app delivery accelerator NetScaler lines are “distinct” from the core products.

Since then, the company has floated the idea of selling its GoTo business, but the sources claimed that's on hold because the virty vendor hopes for a better valuation if it finds a buyer for the entire outfit.

Only last week, Citrix hired a new global channel veep Kimberly Martin to take charge of ISVs, OEMs, SIs, service providers, resellers & disties.®

comment icon Read 12 comments on this article or post a comment alert Send corrections

Opinion

Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella
Stranded_ships

Chris Mellor

Thousands of layoffs announced as spinning rust enters its death spiral

Features

STRASBOURG, JUNE 29, 2016: The seat of the European Parliament. by Marco Aprile for shutterstock. EDITORIAL USE ONLY
Plan b, image via Shutterstock
EU workers, new markets: post-Brexit pressure on May & Co
Tough question, pic via Shutterstock
Honest mistake with your licensing? Audit police look at it on a 'case by case basis'