Debevoise & Plimpton and Gibson, Dunn & Crutcher are advising Evergreen Coast Capital Corp. on the take-private acquisition of cloud-computing company Citrix Systems Inc.
Kirkland & Ellis is advising Vista Equity Partners, which along with Evergreen is acquiring Citrix for $13 billion. Goodwin Procter is advising Citrix.
Vista and Evergreen plan to combine Citrix with enterprise data management specialist TIBCO Software, a Vista portfolio company, to create a software and cloud-computing company for the era of hybrid work, according to a statement.
Kirkland is also advising TIBCO.
The deal calls for Citrix shareholders to get $104 per share from Vista and Evergreen, a private equity unit of Elliott Investment Management LP.
Upon closing, expected by midyear, Citrix will become a private company, and its shares will no longer trade on the Nasdaq. Fort Lauderdale, Fla,-based Citrix will continue to operate under the Citrix brand.
The combination will create one of the world’s biggest software providers, serving 400,000 customers, including 98% of the Fortune 500, with 100 million users in 100 countries, the statement said.
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