[HN Gopher] Citrix acquired and merged with Tibco for $16.5B
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Citrix acquired and merged with Tibco for $16.5B
Author : avrionov
Score : 62 points
Date : 2022-09-30 21:12 UTC (1 hours ago)
(HTM) web link (www.cloud.com)
(TXT) w3m dump (www.cloud.com)
| fny wrote:
| The next decade is going to be heaven for M&A. Also, the yields
| on the bonds Citrix issued were eye-popping.
| arawde wrote:
| Afaik the bonds are issued by the PE firms executing the deal,
| and it's taken many months to close. The debt has sat on bank
| books for a significant portion of time, so the yields are
| reflective of the price needed to unload them in the current
| market vs a market that was more conducive to the offering when
| the deal was initially agreed upon
| snake_doc wrote:
| PE firms don't issue debt for leveraged buyouts. The debt is
| issued by the target company, ie. Citrix. Citrix is
| responsible for servicing the debt, not the PE firm.
| johnebgd wrote:
| Part of the way M&A activity destroys companies.
|
| Not that anyone would miss Citrix except for their open
| source contributions, even if they are pared down.
| svnt wrote:
| The WSJ reported on it:
|
| https://archive.ph/LVoGa
| chadash wrote:
| Can you elaborate on why conditions will be good for M&A?
| svnt wrote:
| I'm also interested to hear why. Maybe if you are
| consolidating unfundable companies by force?
| avrionov wrote:
| This article explains some of the background and how the banks
| lost money on the deal:
|
| https://prospect.org/power/griftrix-citrix-systems-debt-deal...
| [deleted]
| osamagirl69 wrote:
| I wonder if this will affect the open core XenServer project.
|
| backstory: Citrix has been releasing a community version of their
| xenserver product (based on the open source Xen project) but over
| the last few years they have been removing features from the open
| core version, going so far as to remove Xen from the name in late
| 2019
|
| https://news.ycombinator.com/item?id=15974615
|
| https://news.ycombinator.com/item?id=19479483
| gwd wrote:
| Removing Xen from the name had nothing directly to do with
| changing the model for Xen Server; _all_ Citrix products were
| re-branded at the same time.
|
| You never know what corporations will do with products they're
| supporting, whether they're open-source or not. (Ask VMWare
| customers how they're feeling now, for instance.) But with
| open-source, if there's a large enough user base, _someone_ can
| step in and take over the software to fill the gap -- and in
| fact, that 's exactly what's happened with XenServer: the XCP-
| ng forked the open-source part of XenServer, and now Vates (the
| company behind XCP-ng) is actively collaborating with Citrix on
| future development. Removing features from "free XenServer"
| wouldn't really have that big of an impact on customers, since
| they'd almost certainly end up in XCP-ng anyway.
| aliqot wrote:
| Sounds like you already have an idea. What are you moving to
| next?
| VoodooJuJu wrote:
| I just find it fascinating that I can go through my life and see
| things like this: "[Company I've never heard of] and [Another
| company I've never heard of], something something, billions and
| billions of dollars". And these companies and the people who run
| them probably have a non-trivial impact on my life, if not
| directly than indirectly.
|
| It's just fascinating.
| hownottowrite wrote:
| What year did I wake up in? Is this 2005?
| robertlagrant wrote:
| Aren't Tibco EAI? Why are they buying Citrix?
| avrionov wrote:
| TIBCO is not buying Citrix. Vista and Elliot bought Citrix and
| merged it with TIBCO which was owned by Vista.
| noitpmeder wrote:
| Maybe they can fix the crapshoot that is Tibco-Rendevous (RV)
| djbebs wrote:
| Is it really that bad?
|
| When i worked it it i quite liked it
| [deleted]
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