Citrix tries again to sell company

Citrix Systems Inc.is looking to sell its entire self as quickly as possible, with Dell Inc. being mooted as a possible buyer. Citrix is newly engaged in buyout talks with private equity firms and some technology companies.

Before starting a sales process for the GoTo products-which includes the GoToMeeting video and Web conferencing service-Citrix wanted to determine whether it could find a suitable buyer for the entire company.

Poorly performing Citrix has found itself under siege from the renowned activist investment firm Elliott Management Corp. after that organization took a considerable stake in the company earlier this year. At the same time, Citrix announced it was appointing an Elliott representative to the board of directors and would search for other independent board members who met with Elliott’s approval.

“I could see the value where Dell could use Citrix as a way to offer more software and services”, said Patrick Mulvee, a partner at Sidepath, a Laguna Hills, Calif.-based solution provider and Dell channel partner. It reported net income of $251.7 million in 2014, down from $339.5 million in 2013.

The usual “people familiar with the matter” reckon Dell is among the companies Citrix has approached.

A month later, CEO Mark Templeton revealed he will retire as soon as a successor is found. At the same time, Elliott senior portfolio manager Jesse Cohn grabbed himself a seat on the board.

If Citrix does not sell itself in its entirety, it will not just seek to sell or spin off its GoTo products, but it will also explore options for other assets down the line.