FORT LAUDERDALE, Fla. — 8/21/2006 — Citrix Systems, Inc. (Nasdaq: CTXS) today announced it has completed the acquisition of privately held Orbital Data Corp., a leading provider of solutions that optimize the delivery of applications to branch office users over wide area networks (WANs). The cash consideration to shareholders was approximately $50 million. The company also assumed approximately 0.3 million unvested stock-based instruments each of which upon vesting will be exercisable for the right to receive one share of the company’s common stock.
This acquisition strengthens Citrix’s customer value proposition as part of the company’s end-to-end application delivery strategy. With an estimated 55 percent of all employees worldwide accessing their applications from branch offices, WAN optimization solutions are rapidly becoming a critical infrastructure requirement for companies worldwide. The Orbital Data solution, which will be re-branded as
Citrix(R) WANScaler(TM), addresses this important market by improving application response time up to 50 times for branch office employees while reducing the need for expensive bandwidth upgrades. The new Citrix WANScaler solution also provides an ideal complement to the company’s flagship Citrix® NetScaler® and Citrix Presentation Server™ product lines, further enhancing performance for remote application users.
“With this acquisition, Citrix enters the fast-growing WAN optimization market accelerating application delivery for branch offices worldwide thereby extending our best access experience value,” said BV Jagadeesh, group vice president and general manager, Application Networking Group for Citrix.
“Citrix has a proven track record making successful acquisitions and bringing products to market as part of its overall application delivery strategy. A similar opportunity exists with Orbital Data, and we are enthusiastic about bringing this solution to our customers and channel partners around the world.”
Orbital Data’s development and marketing teams will join the Citrix Application Networking Group in San Jose, Calif., while Orbital’s sales teams will report into Citrix sales and channel development teams, becoming dedicated WANScaler sales and channel development specialists.
About Citrix
Citrix Systems, Inc. (Nasdaq:CTXS) is the global leader and most trusted name in on-demand access. More than 180,000 organizations around the world rely on Citrix to provide the best possible access experience to any application for any user. Citrix customers include 100% of the Fortune 100 companies and 98% of the Fortune Global 500, as well as hundreds of thousands of small businesses and individuals. Citrix has approximately 6,200 channel and alliance partners in more than 100 countries. Citrix annual revenues in 2005 were $909 million. Learn more at
http://www.citrix.com.
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 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 by the company’s vice president and general manager for application networking; statements concerning the WAN optimization and branch office markets, marketing plans, customers, the Citrix installed base, products and technology; statements concerning expectations as to demand for growth of the products; and statements concerning 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 success of the Citrix WANScaler brand and Citrix’s other product lines; the introduction of new products by competitors or the entry of new competitors into the markets for Citrix’s products; Citrix’s ability to successfully integrate the operations and employees of acquired companies and the possible failure to achieve or maintain anticipated products, revenues and profits from acquisitions; failure to further develop and successfully market Citrix WANScaler technology and products; failure to achieve anticipated revenues; and costs related to the acquisition; Citrix’s reliance on and the success of Citrix’s independent distributors and resellers for the marketing and distribution of Citrix’s products and the success of Citrix’s marketing and licensing programs; as well as risks of downturns in economic conditions generally; political and social turmoil; and the uncertainty in the IT spending environment; 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.
http://www.citrix.com/English/NE/new...p?newsID=33887
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