So TK is bullish on the future, it seems.
From his LinkedIn post:
Now heading into 2024, my vision for Cloud Software Group could not be clearer. We want to build a $20+ billion diversified software company that develops, sells, and supports mission-critical products that serve enterprises globally.
Well, color me cynical, but “we want” is not the same as “we will”. Words matter, actions matter more. What a fool.
His objective is not to grow Citrix/Tibco to $20Billion. The objective is to acqure more "mature" enterprise companies, "optimize" them, and roll them into CSG. This is the Broadcom model.
If you plan to grow a business, you don't lay off people with critical skills, especially after recent layoffs. And I agree Citrix isn't capable of building or growing anything. This is just about milking the revenue stream. Citrix is done.
What in the world makes him think that his company is capable of creating "mission critical" software? There is no evidence for that. The evidence is that the entire product line is obsolete.
I'm struggling to figure out where a $20B valuation comes from with the current CSG portfolio. Even if you doubled the cost of platform licensing for Citrix/Netscaler for the existing customer base (and the fact they're not aggressively chasing new logos), the current and inevitable customer install base attrition doesn't seem to me to add up to a $20B business without bringing something revolutionary to the table. The entire CSG / Tibco portfolio doesn't add up to $20B today. What am I missing?
I think it's funny that he advertised this as "if we do well, there will be plenty of money to go around." What he really meant was "if we do well, let's see if we can do even better with fewer people. How low can we go, I wonder?"
I'm quite sure that Vista has called him onto the carpet more than once. "Hey, Tommy boy, we need more profit and FAST. Get off your a## and fire more people!"
I think he means he's bullish on his personal portfolio. :)
As for CSG, it probably won't even exist in a few years, once Vista is done dismantling it. They sure aren't "building" anything, that's for sure.
He lives in a parallel world
TK has not ‘built’ anything.
He’s buying, destroying, selling and acting as an extortionist to existing customers, and a dictator with his employees.
PE won’t let him crash a 20B ship and damage more brands like that.
Game over soon