Cloud Computing Firm Citrix to Go Private in $16.5 Billion Deal

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January for tech stocks was bleaker than an Edgar Allen Poe short story — and cloud software companies, in particular, have felt the gloom with 33% losses in the last three months, according to the BVP Nasdaq Emerging Cloud Index.

So what happens when a company in this fast depreciating sector gets sold? One of the biggest tech buyouts in history is what happens. On Monday, cloud software company Citrix reached a deal to be acquired by Elliott Management and Vista Equity for $16.5 billion, proving tech is still a draw in private equity circles.

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Source Fool.com