CITRIX SYSTEMS, INC.

(CTXS)
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Delayed Nasdaq  -  04:00 2022-06-27 pm EDT
96.76 USD   +0.18%
06/24CITRIX SYSTEMS, INC.(NASDAQGS : CTXS) dropped from Russell 1000 Value-Defensive Index
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06/24CITRIX SYSTEMS, INC.(NASDAQGS : CTXS) dropped from Russell 1000 Growth-Defensive Index
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06/24CITRIX SYSTEMS, INC.(NASDAQGS : CTXS) dropped from Russell 1000 Defensive Index
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Anaplan to go private in $9.65 bln deal with Thoma Bravo, shares jump

03/20/2022 | 08:09pm EDT
A banner for Anaplan, Inc. hangs on the facade of the NYSE to celebrate the company's IPO in New York

March 21 (Reuters) - Shares of Anaplan Inc rose over 26% in premarket trading on Monday after the software maker agreed to be taken private by Thoma Bravo LP for $9.65 billion, in a sign of rising private equity interest in the cloud-based software space.

The deal, announced on Sunday, would give Anaplan investors $66 for each share held, a premium of more than 30% over the company's last closing price on Friday.

With pandemic-led lockdowns accelerating digital transformations across enterprises, demand for cloud has jumped. While most software companies saw their shares jump last year, Anaplan failed to capitalize on the boom and its shares tumbled over 36%.

Anaplan provides planning software as a service to businesses that help in modeling different forecasting outcomes, and has more than 1,900 customers worldwide.

Hedge fund Sachem Head Capital Management took a nearly 5% stake in Anaplan last month to press the company to make changes.

Software-focused Thoma Bravo, which has with more than $103 billion in assets under management, will focus on Anaplan's software platform and branding to grow business. The deal is expected to close in the first half of this year.

The highly leveraged buyout is the latest in the software sector, which has attracted interest from private equity players.

Many software firms have also taken the go-private route, largely seen as a way to grow for businesses in the midst of model transformation.

In January, software company Citrix Systems said it would be taken private for $16.5 billion including debt by affiliates of Elliott Management and Vista Equity Partners.

The news of the Anaplan deal, which has an enterprise value of $10.7 billion, was first reported by the Wall Street Journal.

(Reporting by Vishal Vivek and Jahnavi Nidumolu in Bengaluru; Additional reporting by Chavi Mehta; Editing by Himani Sarkar, Aditya Soni and Shinjini Ganguli)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ANAPLAN, INC. 0.58% 63.73 End-of-day quote.39.00%
CITRIX SYSTEMS, INC. 0.18% 96.76 Delayed Quote.2.11%
All news about CITRIX SYSTEMS, INC.
06/24CITRIX SYSTEMS, INC.(NASDAQGS : CTXS) dropped from Russell 1000 Value-Defensive Index
CI
06/24CITRIX SYSTEMS, INC.(NASDAQGS : CTXS) dropped from Russell 1000 Growth-Defensive Index
CI
06/24CITRIX SYSTEMS, INC.(NASDAQGS : CTXS) dropped from Russell 1000 Defensive Index
CI
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06/10MARKETSCREENER'S WORLD PRESS REVIEW : June 10, 2022
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Analyst Recommendations on CITRIX SYSTEMS, INC.
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Financials (USD)
Sales 2022 3 316 M - -
Net income 2022 246 M - -
Net Debt 2022 2 605 M - -
P/E ratio 2022 49,9x
Yield 2022 1,15%
Capitalization 12 226 M 12 226 M -
EV / Sales 2022 4,47x
EV / Sales 2023 4,18x
Nbr of Employees 9 000
Free-Float 38,4%
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Mean consensus HOLD
Number of Analysts 8
Last Close Price 96,59 $
Average target price 105,86 $
Spread / Average Target 9,59%
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Managers and Directors
Robert M. Calderoni Chairman, President & Chief Executive Officer
Jason Smith Chief Financial Officer & Executive Vice President
Woong Joseph Kim Executive VP, Chief Technology & Product Officer
Mark Schmitz Chief Operating Officer & Executive Vice President
Murray J. Demo Independent Director
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