Elliott, Vista near $13 bn deal to buy cloud computing firm Citrix: Report

Citrix's products allow employees to access their companies' network remotely, but it has failed to capitalise on the rise of remote working during the pandemic.

Elliott Management Corp and Vista Equity Partners are close to buying Citrix Systems Inc in a deal that values the U.S. cloud computing company at about $13 billion, according to a person familiar with the matter.

The deal, which could be announced as soon as early this week, came after Elliott and Vista jointly tapped the loan market to fund their cash bid for Citrix at $104 per share. Once taking Citrix private, Vista plans to merge it with Tibco, another data analytics software firm it owns.

The cash bid comes lower than where Citrix stock closed at $105.55 on Friday. Still,