Citrix Systems explores potential sale after 2021 stock rout

Citrix Systems explores potential sale after 2021 stock rout

Sept 14 (Reuters) – Cloud computing company Citrix Systems Inc (CTXS.O) is working with advisers weighing whether to sell itself after its stock tumbled this year, Bloomberg News reported on Tuesday citing people familiar with the matter.

The workplace software maker plans to gauge the interest of potential buyers over the next few weeks, the report said, adding that a decision is yet to be made on whether to pursue a sale and Citrix might remain a standalone entity.

The report, however, did not provide the details of the advisers with whom the company is working on the potential sale.

Citrix Systems did not immediately respond to a request for comment.

The Florida-based company’s shares have dropped 15.8% so far this year while Citrix Systems’ market capitalization stood at $13.6 billion as of Tuesday’s close.

The company had also previously attempted to sell itself in the past. In 2017, Citrix Systems had explored strategic alternatives including a potential sale.

Reporting by Anirudh Saligrama in Bengaluru

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