On January 31, 2022, Citrix Systems announced that it has entered into a definitive agreement under which affiliates of Vista Equity Partners, a leading global investment firm, and Evergreen Coast Capital Corporation, an affiliate of Elliott Investment Management L.P., will acquire Citrix in an all-cash transaction valued at $16.5 billion, including the assumption of Citrix debt. Wilson Sonsini Goodrich & Rosati advised Qatalyst Partners, the financial advisor to Citrix, in connection with the transaction.

Under the terms of the agreement, Citrix shareholders will receive $104.00 in cash per share, representing a premium of 30 percent over the company’s unaffected five-day VWAP as of December 7, 2021, the last trading day before market speculation regarding a potential transaction, and a premium of 24 percent over the closing price on December 20, 2021, the last trading day prior to media reports regarding a potential bid from Vista and Evergreen. The transaction, which has been unanimously approved by members of the Citrix board of directors, is expected to close mid-year, subject to customary closing conditions. Upon completion of the transaction, Citrix’s shares will no longer trade on the Nasdaq, and Citrix will become a private company.

The Wilson Sonsini team that advised Qatalyst Partners on the transaction includes Marty Korman, Doug Schnell, Broderick Henry, and Dennise Martinez.

For more information, please see Citrix’s press release.