Citrix-Tibco New CEO Tom Krause: 5 Huge Things To Know
From his vast IT history to his key role in Broadcom’s planned acquisition of VMware, here are five big things to know about Citrix-Tibco‘s new CEO, Tom Krause.
Tom Krause’s Departure From Broadcom-VMware: 5 Big Things To Know
Tom Krause is shaking up the IT industry by jumping ship to Citrix-Tibco after championing Broadcom’s software business along with being the face of Broadcom’s deal to acquire VMware for $61 billion.
Krause will become the new CEO of the soon-to-be combined Citrix Systems and Tibco Software company. He is set to leave Broadcom on Friday, July 15.
In a statement today, Krause touted Citrix and Tibco as pioneers in their respective markets.
“I am honored to take the helm of a global enterprise software leader that will continue to accelerate digital transformations and the future of hybrid work,” said Krause. “I am excited to partner with the leadership teams and talented employees from Citrix and Tibco around the world to drive growth and ensure a successful path forward for the combined company.”
Private equity firms Vista Equity Partners and Elliott Investment Management agreed to acquire Citrix earlier this year for $16 billion.
The firms plan to merge Citrix with Tibco, a Vista portfolio company, within the next few months.
San Jose, Calif.-based Broadcom sent shockwaves through the software industry earlier this year by unveiling its planned $61 billion acquisition of VMware, based in Palo Alto, Calif..
Broadcom plans to close on its VMware purchase by the end of its fiscal year 2023, which ends October 2023.
In a letter to VMware employees today announcing Krause’s departure Broadcom CEO Hock Tan tried to reassure VMware that everything is going to be fine.
“Since announcing the transaction, I know that Tom has gotten to know some of you through our post-closing planning efforts,” said Tan in a letter today to all VMware employees. “I will now be overseeing these efforts which will continue in the normal course as we work towards closing the transaction in Broadcom‘s fiscal year 2023. … Broadcom is steadfast in our commitment to reimagining what we can deliver for our customers together.”
CRN breaks down the five most important things to know about Tom Krause departing Broadcom amidst its VMware deal to become CEO of the combined Citrix-Tibco.