Citrix considering sale after share price plummets during 2021 - report

Bloomberg reports that the software vendor is working with advisors on a potential sale

Citrix is said to be discussing a possible sale after a difficult 2021, according to a report from Bloomberg.

Bloomberg reports that the global software vendor is working with advisors to consider whether to sell itself, with its shares dropping 15.8 per cent so far this year.

CRN reached out to Citrix for comment but did not hear back by the time of publication.

The American news outlet cites people familiar with the matter as its source but says that a decision is yet to be made on whether to pursue a sale and that Citrix might remain as a standalone entity.

It follows previous rumours of a Citrix sale which have dated back a number of years and adds to the growing pressure on the company to improve its stock, with the Wall Street Journal reporting earlier this month that Elliott Management, which it said holds a $1bn stake in the company, wants Citrix to take steps to improve its lagging stock price.

Citrix, which currently has a market capitalisation of $13.61 billion, plans to explore the interest of potential buyers over the next few weeks, the Bloomberg report states, but the details of the advisers with whom the company is working were not disclosed.