M&A Deal Summary

Vista Equity Partners and Evergreen Coast Capital Acquire Citrix

On January 31, 2022, private equity firms Vista Equity Partners and Evergreen Coast Capital acquired software company Citrix for 16.5B USD

Acquisition Highlights
  • This is Vista Equity Partners’ 52nd and Evergreen Coast Capital’s 2nd transaction in the Software sector.
  • This is Vista Equity Partners’ and Evergreen Coast Capital’s largest (disclosed) transaction.
  • This is Vista Equity Partners’ 118th and Evergreen Coast Capital’s 4th transaction in the United States.
  • This is Vista Equity Partners’ 7th and Evergreen Coast Capital’s 1st transaction in Florida.
Investment Fate
  • Citrix was sold to a strategic buyer in 2022.

M&A Deal Summary
Date 2022-01-31
Target Citrix
Sector Software
Buyer(s) Vista Equity Partners
Evergreen Coast Capital
Deal Type Going Private
Deal Value 16.5B USD
Advisor(s) Qatalyst Partners (Financial)
Goodwin Procter (Legal)

Target

Citrix

Fort Lauderdale, Florida, United States
Citrix System's corporate headquarters in Fort Lauderdale, Florida.
Citrix System's corporate headquarters in Fort Lauderdale, Florida.
Citrix develops and sells products and services that enable the secure and reliable delivery of applications and data over public, private, or hybrid clouds or networks, to virtually any type of device. The Company markets and licenses its products directly to customers, over the Web, and through systems integrators, or SIs, in addition, to indirectly through value-added resellers, or VARs, value-added distributors, or VADs, original equipment manufacturers, or OEMs and service providers. Citrix was established in 1989 and is based in Ft. Lauderdale, Florida.

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Buyer(S) 2

Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.

DEAL STATS #
Overall 129 of 149
Sector (Software) 52 of 59
Type (Going Private) 18 of 25
State (Florida) 7 of 9
Country (United States) 118 of 137
Year (2022) 2 of 7
Size (of disclosed) 1 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-12 StarRez

Greenwood Village, Colorado, United States

StarRez is a provider of residential community and student housing software solutions. Managing over 2.1 million beds, the platform positively impacts millions of users from around the world providing solutions to manage the resident experience, occupancy, revenue, allocations, and more. It serves some of the most prestigious organizations in the world including Harvard University, Stanford University, National University of Singapore, University of London, Australian National University, Vail Ski Resorts (Staff Housing), iQ Student Accommodation (PBSA), Scape Living (PBSA) and 800+ more. StarRez was formed in 1992 and is based in Greenwood Village, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-15 Securonix

Addison, Texas, United States

Securonix provides analytics-driven next-generation SIEM, UEBA, and security data lake capabilities as a pure cloud solution, without compromise. The Securonix platform delivers positive security outcomes with zero infrastructure to manage. Securonix was founded in 2007 and is based in Addison, Texas.

Buy -
Buyer

Evergreen Coast Capital

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Evergreen Coast Capital is a private equity firm that invests in a variety of industries and situations throughout the US. Evergreen Coast Capital is headquartered in Menlo Park, California.

DEAL STATS #
Overall 5 of 6
Sector (Software) 2 of 2
Type (Going Private) 3 of 4
State (Florida) 1 of 1
Country (United States) 4 of 5
Year (2022) 1 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-22 athenahealth

Boston, Massachusetts, United States

athenahealth is a provider of Internet-based business services for physician practices. The Company's service offerings are based on proprietary web-native practice management and electronic health record (EHR) software, a continuously updated payer knowledge-base, integrated back-office service operations, and live patient communications services. athenahealth was founded in 1997 and is based in Boston, Massachusetts.

Sell $17.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-29 Nielsen

New York, New York, United States

Nielsen is a global information and measurement company that provides clients with a comprehensive understanding of consumers and consumer behaviour. Nielsen delivers critical media and marketing information, analytics, and industry expertise about what consumers buy and what consumers watch (consumer interaction with television, online and mobile) on a global and local basis. Nielsen was founded in 1923 and is based in New York City.

Buy $16.0B
Mergr

Product

Company

Legal