Business software company Citrix Systems, which earlier this year was under fire from an activist investor, reportedly is seeking a buyer for its entire business.
Reuters, citing people familiar with the matter, reported Wednesday that the California-based company is looking to sell the business as a whole before seeking a buyer for some of its assets.
Reuters reported that the company is having conversations with buyout firms and has reached out to other technology firms, including Dell.
Citrix said in July that it was reviewing strategic alternatives for its GoTo products, including a sale or spin-off, and that its board of directors had formed a committee that was reviewing the company’s operations and capital structure in conjunction with management.
Never miss a local story.
In June hedge fund Elliott Management, which at the time owned 7.5 percent of Citrix, had urged the company to sell its GoTo business, which includes online meeting software GoToMeeting, and become more cost-efficient. But Citrix reached a standstill agreement with Elliott in July that, among other things, called for it to limit its ownership stake to 9.9 percent in exchange for a seat on the Citrix board.
Citrix moved into the Triangle in 2011 when it acquired Raleigh-based ShareFile for $54 million. Its local operations have grown much faster than expected and today the company has about 600 employees at its new offices in the Warehouse District.