Citrix Parent considers sale of ShareFile platform arm

(Bloomberg) — Citrix Systems Inc.’s parent company is exploring the sale of content collaboration platform ShareFile, according to people with knowledge of the matter, as the software maker begins to streamline under its private equity owners .

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Cloud Software Group Inc., formed by the combination of Citrix and Tibco Software, is working with a financial advisor to gauge buyer interest in ShareFile, which could be valued at about $1.5 billion, the people said, who asked not to be identified because the details are not public.

ShareFile, which makes document sharing and synchronization software that integrates with apps like Microsoft Outlook, is expected to attract mostly private equity firms, the people said. Deliberations are early and there is no certainty that the discussions will result in a transaction, they added.

Elliott Investment Management and Vista Equity Partners took Citrix private in a $13 billion deal that was one of the largest leveraged buyouts of 2021. As part of the transaction, Vista and Elliott merged Citrix with Tibco, a enterprise data management company owned by Vista.

A representative for Cloud Software Group did not immediately respond to requests for comment. A Vista spokesperson declined to comment. A representative for Elliott had no immediate comment.

Cloud Software Group has been an active seller of bonds and leveraged loans in recent months as it refinances expensive debt used to finance its acquisition. The company priced a $6.5 billion leveraged loan, the largest in the U.S. so far this year, on Wednesday.

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