Citrix acquires Expertcity

NEW DELHI: Citrix Systems, Inc. has announced that it has completed the acquisition of privately held Expertcity Inc., a provider of web-based access services with more than 109,000 individual customers, about 4,900 corporate customers and 180,000 total PCs under license for its products.

According to the company release, the combined business will help accelerate Citrix's growth in the access infrastructure market, a market that is expected to reach $8 billion -$10 billion in the next three to four years.

Citrix announced a definitive agreement to purchase Expertcity on December 18, 2003. The release further states that 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 GoToAssist software service. 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 fulfillment.

Citrix acquired Expertcity for approximately $225 million, payable in approximately 50 percent cash and 50 percent stock. An additional amount up to $12 million in stock will be paid to all Expertcity stockholders, if Expertcity achieves certain financial milestones in 2004. Expertcity will continue to operate in Santa Barbara, Calif., as the Citrix Online Division. Expertcity's former president and CEO Andreas von Blottnitz will serve as president of the division reporting directly to Templeton.

"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 president and CEO for Citrix, Mark Templeton.

(CyberMedia News)