Citrix to Acquire Netviewer
Creates Powerful Force to Meet Surging European Demand for SaaS Collaboration and IT Services
SANTA BARBARA, Calif. & KARLSRUHE, Germany (December 17, 2010) – Citrix Systems, Inc. (NASDAQ: CTXS), has entered into a definitive agreement to acquire Netviewer AG, a privately held European Software-as-a-Service (SaaS) vendor in collaboration and IT services. Netviewer AG will become part of the Citrix online services division, Citrix Online, and the acquisition will enable the extension of its SaaS leadership in Europe. The transaction is expected to close in early 2011, subject to the satisfaction of closing conditions.
Citrix Online is expanding globally and this acquisition will accelerate its growth in Europe by combining two complementary market leaders with a shared vision for virtual workstyles, innovation and delivering an excellent customer experience. This vision is central to Citrix’s virtual computing strategy. Netviewer has customers in many countries throughout Europe, including the UK, France, Germany, Switzerland, Austria, Benelux, the Nordics, Italy and Spain.
“SaaS-based collaboration and IT Services have been key to our growth story. We believe there is even more opportunity ahead as the global market matures and customers look for a strong, experienced partner,” said Brett Caine, Senior Vice President, Online Services Division, Citrix Systems, Inc. “With the acquisition of a company that shares our vision, we will continue to execute on our strategy for global expansion and accelerated growth by delivering products that offer a simpler, better experience to enable customers to succeed.”
Market research and local operating experience indicate continued rapidly growing demand for collaboration and IT services in Europe. Macro-economic trends such as globalization, distributed teams, and environmental concerns are driving the need for more virtual communications and workstyles throughout the European region. Citrix Online is at the forefront of driving these transitions with its customers. This acquisition will enable Citrix Online to expand its presence more quickly in Europe just as demand surges.
Netviewer has built an installed base of more than 18,000 customers, from global blue chip companies to small- and medium-sized enterprises as a result of a dedicated focus on providing an excellent customer experience. Its product strategy and approach to customer success is similar to Citrix Online’s “simpler is better,” customer-centric products and services.
Robert Gratzl, Netviewer’s board spokesperson, added: “In Citrix Online, we found a partner with a similar market philosophy, good cultural alignment and the drive, passion and resources to leverage the accelerating growth opportunities across Europe. Our customers will benefit enormously from our combined resources through greater innovation and faster time to market.”
Upon the closing of the acquisition, Mr. Gratzl will be appointed as the vice president and general manager for Citrix Online in EMEA (Europe, Middle East and Africa). Netviewer’s Karlsruhe office will remain an important center for Citrix Online’s operations in the region.
For more information on Citrix, visit http://www.citrix.com
For more information on Citrix Online’s services, visit http://www.citrixonline.com
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About Citrix Systems
Citrix Systems (“Citrix”) is a leading provider of virtual computing solutions that help companies deliver IT as an on-demand service. Founded in 1989, Citrix combines virtualization, networking, and cloud computing technologies into a full portfolio of products that enable virtual workstyles for users and virtual datacenters for IT. More than 230,000 organizations worldwide rely on Citrix to help them build simpler and more cost-effective IT environments. Citrix partners with more than 10,000 companies in more than 100 countries. Annual revenue in 2009 was $1.61 billion.
For Citrix Investors
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, including, without limitation, statements concerning the proposed acquisition; the timing of the acquisition; the company’s global expansion and its acceleration of growth in EMEA; the future demand for collaboration and IT services globally and in Europe; integration plans; and management’s plans, objectives, strategies and assessments of market factors, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, including, without limitation, the possibility that the proposed acquisition will not close, that the closing may be delayed or that the companies may be required to modify aspects of the acquisition to close the acquisition; the satisfaction of closing conditions to the acquisition; the reaction of customers of Citrix and Netviewer to the acquisition; Citrix’s timing and ability to successfully integrate Netviewer’s products, operations (including migration of Netviewer to Citrix’s systems and controls) and employees; the introduction of new products by competitors or the entry of new competitors into the markets for Citrix’s and Netviewer’s products; the failure by Citrix to retain key employees of Netviewer; failure to further develop and successfully market Netviewer’s technology and products, including failure to execute Citrix’s sales and marketing plans and to achieve or maintain anticipated revenues and profits; the impact of the global economy and uncertainty in the IT spending environment, including Citrix’s European markets; the company’s ability to maintain and expand its business in small sized and large enterprise accounts; the size, timing and recognition of revenue from significant orders; the success of investments in its products, foreign operations and vertical and geographic markets; the management of anticipated future growth; risks in effectively controlling operating expenses, including failure to manage unexpected expenses; the effect of new accounting pronouncements on revenue and expense recognition; litigation, including litigation challenging our intellectual property rights or alleging the infringement of the intellectual property rights of third parties; changes in the company’s pricing and licensing models, promotional programs and product mix, all of which may impact Citrix’s revenue recognition or those of its competitors; charges in the event of the impairment of assets acquired through business combinations; competition and other risks associated with the markets for Citrix’s SaaS collaboration and IT services; unanticipated changes in tax rates or exposure to additional tax liabilities; risks of political and social turmoil; and other risks detailed in the company’s filings with the Securities and Exchange Commission. Citrix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
Netviewer is Europe’s leading producer and provider of web conferencing solutions. Founded in Karlsruhe, Germany, in 2001, the company currently employs more than 220 people. Netviewer enables Internet users to share their screen display live, so as to jointly edit texts, calculations, graphics and other documents. Visual real-time communication over the Internet enables businesses to reduce their travel times and costs, as well as to improve productivity. Moreover, users are actively contributing towards the protection of the climate and the natural environment.
These advantages are being enjoyed by more than 18,000 corporations and mid-size companies from 68 different countries, including Bayer, BMW, SAP, Siemens, Deutsche Post, Deutsche Telekom and Swisscom.
Citrix® GoToMyPC®, GoToMeeting®, GoToMeeting with HDFaces(TM), GoToWebinar®, GoToAssist ® Corporate(TM), GoToAssist® Express(TM), GoToTraining®, GoView(TM) HiDef Conferencing(TM) and HiDef Corporate(TM) are trademarks of Citrix Systems, Inc. and/or one or more of its subsidiaries, and may be registered in the U.S. Patent and Trademark Office and in other countries. All other trademarks and registered trademarks are property of their respective owners.
Paul Burrin, 805/690-6176
Laura McCormick, 805/452-0597
Oliver Schwartz, +49 151 14260561
Juliet Stanford-Smith, +44 1753 482008
Source: Citrix Systems