Citrix to privatise and merge with Tibco following £12.1bn acquisition

Merger Deal

US cloud services provider Citrix has been acquired for $16.5 billion (£12.1bn) and will be privatised and merged with data analysis software developer Tibco Software.

The buyout comes from Elliot Investment Management and Vista Equity Partners, the latter of which has owned Tibco since 2014.

Following weeks of reports of negotiations, the acquisition deal has been approved by Citrix’s board of directors and is expected to close by mid-2022.

Elliot...

Google Cloud and SAP expand partnership for business transformation

Thomas Saueressig SAP

Google Cloud has expanded its strategic partnership with German software company SAP to accelerate business transformations in the cloud.

Together, the two corporations also plan to help customers migrate critical business systems to the cloud and augment existing systems with Google's capabilities in artificial intelligence and machine learning.

Rob Enslin, president at Google Cloud, said: “Google Cloud and SAP share a commitment to supporting customer success and...

Cloud account compromises costs organisations £4.5m annually

An open padlock.

The average cost of cloud account compromises reached $6.2 million (£4.5m) over a 12-month period according to more than 600 IT and IT security professionals in the US.

This finding is the most revealing of many from a new report on ‘The Cost of Cloud Compromise and Shadow IT’ released by Proofpoint, a cybersecurity and compliance company, and the Ponemon Institute, an IT security research organisation.

Of the respondents, 68% believe cloud account takeovers present...

Democratising financial projections for the age of SaaS

Stacks of money.

More than 650,000 companies in the United States use Excel to create financial projections. While Excel is surely a versatile tool, it forces manual processes onto finance departments and essentially hinders collaboration.

Companies were locked into Excel in the past because cloud-based budget management and financial reporting software were only targeted at enterprises. These days, however, advanced SaaS solutions that automate financial processes are available for companies of...