$13 billion tech titan Citrix is reportedly looking for a buyer again (CTXS)

pulse

March 13, 2017 8:27 PM

Citrix is looking to sell itself, again.

Kirill Tatarinov Microsoft Dynamics chief

Citrix, the $13 billion cloud computing tech company, is working with Goldman Sachs to negotiate a possible sale, reports Bloomberg, citing anonymous sources.

This isn't the first time that Citrix has shopped itself around: in late 2015, and under pressure from activist shareholder Elliott Management, Citrix was said to have unsuccessfully tried to find a buyer.

This time out, reports Bloomberg, Citrix is also open to making a deal with private equity firms — but because the company has such a high valuation, it's unlikely that any one firm would have the cash on hand to make a deal, complicating the whole affair.

At the time, it was reported that Citrix was looking for a good price for the whole business, rather than selling off individual products or business units. It's not clear whether the company is currently seeking to sell the entire business or specific assets.

Still, in February, Citrix spun off GoTo, the business responsible for well-known software including GoToMeeting, and merged it with Boston-based remote desktop company LogMeIn.

Citrix was finished Monday's regular trading session at $84.93, up 6.79% and hitting a 52-week high of $87.99 over the course of the session before giving back some of the gains.

Citrix did not immediately respond to a request for comment.

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