Maybe they can fix the crapshoot that is Tibco-Rendevous (RV)
Or Tibco Smartsockets
Citrix acquired and merged with Tibco for $16.5B
51–60 of 191 posts
Re: Citrix acquired and merged with Tibco for $16.5B
#52I 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.
Citrix are pretty ubiquitous in the corporate space. Not as big a deal as they were ten or 15 years ago, but still a huge company that powers a lot of businesses.
Citrix originally licensed the technology for the Remote Desktop Protocol (RDP) to Microsoft.
RDP was a pared back version of Citrix, and the license terms left Citrix free to sell a with a more fully-featured virtualised desktop product running on top of Windows Server.
Re: Citrix acquired and merged with Tibco for $16.5B
#53Re: Citrix acquired and merged with Tibco for $16.5B
#54I 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.
Tibco is responsible for Jaspersoft. Jaspersoft is both insanely powerful and will make you want to kill the authors and then yourself. There isn’t really anything else that does what it does though and you can take that statement both ways. I really hate Jaspersoft but unless you work in a certain kind of enterprise environment you can go an entire career without running into it.
I haven’t thought about JasperSoft since 2009. I didn’t know it was still a thing,
Re: Citrix acquired and merged with Tibco for $16.5B
#55Re: Citrix acquired and merged with Tibco for $16.5B
#56Earlier quoted context omitted.
Worked at a F500 company. Never heard of those.
You would have definitely used Citrix products, but unless you were in IT you might not have known they were Citrix.
I’ve heard of shops that had all developers use Citrix. But mostly I’ve seen it the context of CSR types being forced to use it so they wouldn’t have access to a computer.
Re: Citrix acquired and merged with Tibco for $16.5B
#57Re: Citrix acquired and merged with Tibco for $16.5B
#58Re: Citrix acquired and merged with Tibco for $16.5B
#59Re: Citrix acquired and merged with Tibco for $16.5B
#60Background on the deal. TIBCO was acquired by Vista Equity Partners 8 years ago and has been a disaster investment. Growth never picked up despite their investments in product, technology, sales and marketing. As a result, TIBCO was stuck selling better software from acquisitions to their existing customer base. Large cap private equity investors like Thoma Bravo, Silver Lake and Blackstone noticed TIBCO's failures making it difficult for Vista to exit their investment. TIBCO has been perpetually on the market for sale since 2017.
Vista's "solution"? Vista managed to push a portion of the equity to Evergreen (Elliott Management's PE arm), and are building a Broadcom or CA Technologies style mammoth of legacy software by calcifying their technology in F500 and low-technology end markets. Their next merger to further feed the beast is Citrix.
Today's problem? The merger requires billions in debt to pay Citrix's public shareholders, which is put on the merged company's new balance sheet. The market was great when the deal was signed almost a year ago and when the large banks signed up to syndicate (sell to smaller investors) the entire debt balance. Unfortunately, as the debt syndication process was underway, the market turned and the typical investors in these huge tranches of LBO debt were no longer interested. That means the big banks were left to fill the balance of what they couldn't syndicate (contractual requirement) by taking on that bad paper themselves. It's bad paper because the banks commit to the LBO investors they'll get the investors to sign up at a 4% interest rate when any investor would probably ask for 7.5-9% now. Believe 8-10 banks are stuck holding something like $2-3 billion.
The Resolution. Deal got done and the LBO investors forced the banks to eat the losses. Now this black hole of a company will continue to grow until it gets foisted on a company like Broadcom or IBM that would be happy to churn out billions in cash from it. PE firms win. Merged company wins. Banks lose. Employees will lose as massive waves of layoffs are done to "eliminate redundancies" because they won't need two complete HR, finance, IT, legal, etc. teams. And billions in cash flow will be generated as a result.