(Bloomberg) — The parent of Citrix Systems Inc. is exploring a sale of content-collaboration platform ShareFile, according to people with knowledge of the matter, as the software maker starts 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 adviser to gauge buyer interest in ShareFile, which could be valued at about $1.5 billion, said the people, who asked to not be identified because the details aren’t public.
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, the people said. Deliberations are early and there’s no certainty 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 among the largest leveraged buyouts of 2022. As part of the transaction, Vista and Elliott merged Citrix with Tibco, an enterprise data management firm that was owned by Vista.
A representative for Cloud Software Group didn’t immediately respond to requests for comment. A spokesperson for Vista declined to comment. A representative for Elliott didn’t immediately provide a 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 buyout. The firm priced a $6.5 billion leveraged loan, the largest in the US so far this year, on Wednesday.
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