Citrix is going through a "final attempt" to sell itself as a whole before starting asset sales, Reuters report, with potential buyers including the likes of Dell.
According to anonymous "people familiar with the matter" the cloud computing company is considering to either sell or spinoff the GoTo subsidiary covering products such as GoToMeeting Web conferencing and GoToMyPC remote access, but would prefer a full sale at a "satisfactory" valuation. Currently Citrix has a market capitalisation of $11.6 billion.
Why would Citrix want to sell itself? The company is a target of its largest shareholder, activist hedge fund Elliott Management. Back in June Elliott declared Citrix has to make up for 6 years of underperformance by selling units, cutting costs and buying back shares, suggesting the sale of the NetScaler delivery accelerator as a start.
In addition Elliot accuses Citrix of having an inefficient cost structure, a weak channel strategy and a too broad product portfolio.