Citrix-Tibco Close $17 Billion Deal, Uniting Virtualization and Enterprise Apps Vendors

Virtualization and cloud products vendor Citrix and enterprise applications vendor Tibco Software have completed their merger, valued at $16.5 billion, with new leadership calling the combined company 'a new global leader in enterprise software.' CRN reports: The two companies announced the deal's completion in a statement Friday. Tom Krause, who left Broadcom after the chip giant's announced acquisition of VMware to become CEO of the combined Citrix and Palo Alto, Calif.-based Tibco, called the combined company 'a new global leader in enterprise software' in the statement.

'We are excited to create a new global leader in enterprise software, designed for scale and growth, through the combination of Citrix and TIBCO,' Krause said. 'The platform we have built will expand and deepen our relationships with our valued customers and partners, drive the future of mission-critical cloud software solutions and create long-term value for all our stakeholders.' With the completion of the Citrix-Tibco deal, Krause revealed on LinkedIn that he is now CEO of Cloud Software Group (CSG), the owner of Citrix and Tibco.

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