The parent of Citrix Systems Inc. is exploring a sale of content-collaboration platform ShareFile, according to Bloomberg News, as the software maker starts to streamline under its private equity owners.
Cloud Software Group Inc., formed by the combination of Citrix and Tibco Software, is working with a financial adviser to gauge buyer interest in ShareFile, which could be valued at about $1.5 billion, reported Bloomberg. ShareFile, which makes document-sharing and sync software that integrates with applications such as Microsoft Outlook, is expected to appeal mostly to private equity firms.
Elliott Investment Management and Vista Equity Partners took Citrix private in a $13 billion deal that was among the largest leveraged buyouts of 2022.