Citrix is reportedly trying to sell for the last time, before being forced to sell its individual assets, reports have revealed.
According to Reuters, people familiar with the matter said Citrix is talking to potential purchasers including Dell and private equity firm Silver Lake Partners.
However, neither company has confirmed whether they are considering a purchase, nor has Citrix confirmed it is trying to find a buyer for its whole business.
If Citrix is unable to find a suitable buyer, it will consider selling of parts of the company, including video conferencing solution GoToMeeting, desktop sharing service GoToBusiness and NetScaler on the demand of hedge fund Elliot Management, which agreed to join the board of directors in July.
Any asset sales will not take place until it has exhausted all avenues for total purchase, at a satisfactory valuation, the sources told Reuters.
Other tactics put forward by Elliot in July when it joined the board of Citrix include cutting costs and buying back shares to try and optimise performance, following six years of losses for the software company.
At the same time as Elliot Management's senior director Jesse Cohen joined the board, Citrix CEO Mark Templeton announced his retirement, although he will remain at the head of the company until a replacement has been found.
"We first invested in Citrix because we saw a substantial value creation opportunity for the company and its shareholders,” Cohn, head of Elliott’s US business said. “We are confident that the initiatives announced will allow Citrix to build upon its position as an innovative industry leader.”
