(Bloomberg) — Tom Krause, who stepped down Monday as president of Broadcom Inc.’s software group, is expected to be named chief executive officer of the company being formed via the merger of Citrix Systems Inc. and Tibco Software, according to people familiar with the matter.
Krause is to become CEO after that deal closes, said the people, who asked to not be identified because the details aren’t public. The transaction is slated to close in the third quarter.
Representatives for Citrix and Tibco didn’t immediately comment.
Krause, 44, was one of the chief negotiators in Broadcom’s $61 billion acquisition of cloud-computing company VMware Inc. He joined Broadcom in 2012 and became its chief financial officer in 2016. Since 2020, he’s led the chip firm’s six software divisions.
Elliott Investment Management and Vista Equity Partners agreed to buy Citrix in January for about $13 billion, with plans to merge it with Vista portfolio company Tibco.
Citrix makes software that workers use to log onto to their corporate programs virtually. Tibco is an enterprise data management firm. The combination will create one of the world’s largest software providers, serving 400,000 customers, according to a statement announcing the merger.
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