Congrats to Vista and Elliott, or not!
Are the judges blind and deaf?
The Citrix + TIBCO transaction won the Deal of the Year, awarded by Private Equity International.
https://www.linkedin.com/posts/vista-equity-partners_we-are-thrilled-to-share-that-vista-alongside-activity-7042509037933891585-pBYk
8 replies (most recent on top)
What's good for the mega rich is NEVER good for the rest of society...
Vista failed to develop and / or sell Tibco, hence the last resort was to use it as a makeweight in the worst deal in history. Remember it’s the banks that will get their pants pulled down when they realize that $17bn was p155ed into a giant legacy hole.
Is there an award for biggest PE tûrd? If not let’s create it.
Reminds me of the recognition given to Silicon Valley Bank for their "outstanding performance" in 2022 by LinkedIn and others. In hindsight, not at all credible.
Private Equity International has apparently lost sight of the disastrous impact of the combination of two failed legacy enterprise software vendors into the CSG fold.
What were they thinking? There's nothing to celebrate when you quantify the Citrix customer losses in the first three months of 2023 to VMware and other competitors. It's a bizarre award of recognition, for sure.
rich people LOVE to give each other awards. it makes them feel like they are loved and adored, just like movie stars! the judges are other rich people who invent new awards and trade them around with each other, kind of like membership on corporate boards.
https://www.business.nova.edu/hall-of-fame/2021-event.html
How the F are there awards for this cräp?
Vista had TIBCO for 8+ years so I sense they put lipstick on the pig and called it a beauty queen. The rest of the PEople followed allowing.