Citrix Systems, Inc, the global leader in access infrastructure solutions, today announced it has completed the acquisition of privately held Expertcity, Inc, the market leader in Web-based access services with more than 109 000 individual customers, about 4 900 corporate customers and 180 000 total PCs under licence for its products.
The combined business will help accelerate Citrix`s growth in the access infrastructure market, a market that is expected to reach $8 billion to $10 billion in the next three to four years. > "With this acquisition, Citrix is uniting two market leaders focused on access - the leader in access infrastructure solutions and the leader in Web-based desktop access - to create one source for complete and secure access solutions," said Mark Templeton, president and chief executive officer for Citrix. "Now, no matter where a company`s applications and information live - whether on the server, the desktop, or both - users will be able to access them on demand with Citrix access infrastructure."
Citrix announced a definitive agreement to purchase Expertcity on 18 December 2003. With the completion of the acquisition, Citrix is expanding its portfolio of access products to include Expertcity`s popular GoToMyPC software service for secure, browser-based and managed access to desktop PCs from anywhere. The acquisition also adds Expertcity`s market-leading GoToAssist software service, which provides secure and reliable Web-based technical support and customer collaboration. GoToMyPC and GoToAssist will now become part of Citrix access infrastructure for the on-demand enterprise. Citrix will also leverage Expertcity`s e-commerce infrastructure and expertise in online marketing, selling and fulfilment.
Citrix acquired Expertcity for approximately $225 million, payable in approximately 50% cash and 50% stock. An additional amount up to $12 million in stock will be paid to all Expertcity stockholders if certain financial milestones are achieved by Expertcity in 2004. Expertcity will continue to operate in Santa Barbara, California, as the Citrix Online Division. Andreas von Blottnitz, Expertcity`s former president and chief executive officer, will serve as president of the division reporting directly to Templeton.
"The synergies in our products and our cultures make this an ideal match and we`re excited to join Citrix," says Von Blottnitz. "The Citrix brand is synonymous with access and will give us leverage to extend our Web-based products across the enterprise and introduce new corporate services. We are poised to help expand Citrix`s market leadership in access infrastructure by extending access to desktop PCs and providing a powerful solution for Web-based technical support and online meetings."
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