AP- Citrix Systems, Inc. is once again for sale after it announced its pivot to the cloud. Prospective suitors include Microsoft, Oracle and three unnamed private equity firms that our source has asked to keep private. Citrix is confident that this time the sale will be approved and Elliott Management can make its exit and move onto new endeavors.
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The Elliott Citrix PV sale checklist
Innovation center shut down- check
GoTo products spun off - check
Cloud platform sold - check
Octoblu shutdown - check
Bean counter CEO in place - check
People laid off - check
Interns hired - check
Engineering outsourced to China - check
Santa Clara buildings sub-leased - check
Final layoffs - stand by for further instructions
It takes time to execute this plan. The article sets the strategy. The execution is almost complete. Stand by for the grand finale.
that article is from 2017 - trolls...
Pray this goes through and I get the layoff package with all RSUs vested. This is a dead endjob. I can hope for it
See Elliott Management's track record here on Layoff.com - it's amazing how many companies are complaining about them:
https://www.google.com/search?q=Elliot+management+site:TheLayoff.com
Elliot management is only the 4 largest shareholder
https://www.nasdaq.com/symbol/ctxs/ownership-summary
True . I could smell Looks something is really cooking . Let's wait and see ..
True . I could smell Looks something is really cooking . Let's wait and see ..
Selling to private equity is the end game for Elliott. They have to make Citrix a good deal first. That means reducing the size of the company through divestment, building the recurring revenues using the cloud services, and cutting costs by outsourcing to China and hiring more interns and less experienced people.
https://www.thestreet.com/story/14117379/1/a-sale-of-citrix-would-complete-multi-year-effort-for-activist-elliott-management.html