Exhibit 99.1
Citrix Completes Acquisition of Expertcity; Gives Customers More
Choice in Accessing Information On Demand
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--March 1, 2004--
Acquisition Expands Citrix's Leadership in Access Infrastructure
Citrix Systems, Inc. (Nasdaq:CTXS), 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 license
for its products. The combined business will help accelerate Citrix's
growth in the access infrastructure market, a market that is expected
to reach $8-10 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
December 18, 2003. With the completion of the acquisition, Citrix is
expanding its portfolio of access products to include Expertcity's
popular GoToMyPC(R) software service for secure, browser-based and
managed access to desktop PCs from anywhere. The acquisition also adds
Expertcity's market-leading GoToAssist(TM) 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 fulfillment.
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, Calif., 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."
About Citrix
Citrix Systems, Inc. (Nasdaq:CTXS) is the global leader in access
infrastructure solutions and the most trusted name in secure access
for enterprises and individuals. Nearly 50 million people in more than
120,000 organizations around the world use Citrix every day. Citrix
software gives people secure and well managed access to business
information wherever it lives--on demand. Citrix customers include
100% of the Fortune 100 companies, 99% of the Fortune 500, and 92% of
the Fortune Global 500. Based in Fort Lauderdale, Florida, Citrix has
offices in 22 countries, and more than 7,000 channel and alliance
partners in more than 100 countries. For more information visit
http://www.citrix.com.
For Citrix Investors
This release contains forward-looking statements which are made
pursuant to the safe harbor provisions of Section 21E of the
Securities Exchange Act of 1934 and Section 27A of the Securities Act
of 1933. 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
regarding the company's future growth, the company's and Expertcity's
products and their leadership positions in their markets, the
potential size of product markets, and management's integration plans,
objectives and strategies, 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 company's product lines; the
company's product concentration and its ability to develop and
commercialize new products and services; the success of investments in
foreign operations and markets; the company's ability to successfully
integrate the operations and employees of acquired companies; failure
to achieve anticipated revenues and profits from acquisitions; the
company's success in expanding into new geographic and vertical
markets; the company's ability to maintain and expand its core
business in large enterprise accounts; the size, timing and
recognition of revenue from significant orders and other revenue
recognition changes, including increases in deferred revenue; the
company's reliance on and the success of the company's independent
distributors and resellers for the marketing and distribution of the
company's products; increased competition, including potential
competition from Microsoft and other companies; changes in the
company's pricing policies or those of its competitors; management of
operations and operating expenses; charges in the event of the
impairment of assets acquired through business combinations and
licenses; the management of anticipated future growth and the
recruitment and retention of qualified employees, as well as risks of
downturns in economic conditions generally; political and social
turmoil; and the uncertainty in and the effects of a weak IT spending
environment which has impacted the overall demand for software and
related services; 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.
Citrix(R) and MetaFrame(R) are registered trademarks or trademarks
of Citrix Systems, Inc. in the U.S. and other countries. GoToMyPC(R)
and GoToAssist(TM) are registered trademarks or trademarks of Citrix
Online LLC in the U.S. and other countries. All product and company
names herein may be trademarks of their respective owners.
CONTACT: Citrix Systems, Inc., Fort Lauderdale
For media inquiries:
Eric Armstrong, 954-267-2977
eric.armstrong@citrix.com
or
For investor inquiries:
Jeff Lilly, 954-267-2866
jeff.lilly@citrix.com