Citrix Signs China Distribution Agreement with Beijing Stone Investment Co.; Agreement Marks First Step in Citrix Expansion in China Marketplace.Business Editors/Technology Writers BEIJING, China--(BUSINESS WIRE)--Aug. 8, 2000 Citrix Systems Citrix Systems' (NASDAQ: CTXS) is an American technology company, based in Fort Lauderdale, Florida, with subsidiary operations in California and Massachusetts, with additional development centers in Australia, India and the UK. , Inc. (Nasdaq:CTXS CTXS Citrix Systems (NASDAQ stock ticker symbol) ) announced today that it has signed a distribution agreement with Beijing Stone Investment Co. Ltd., a national distributor of electronic products, e-commerce and Internet applications and services in China, with 13 branches strategically located on the China mainland, and sales of approximately US$123 million. Under the terms of the agreement Beijing Stone Investment will provide Citrix server-based computing Refers to applications that run in a server. Also known as "thin client computing," it may refer to a browser-based environment that uses a Web browser as the client with all applications running on a Web server on the Internet or in an intranet on the LAN. solutions to value-added resellers A value-added reseller (VAR) is a company that adds some feature(s) to an existing product(s), then resells it (usually to end-users) as an integrated product or complete "turn-key" solution. and system integrators that specialise in enterprise application deployment solutions in the China marketplace. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Avneesh Saxena, director for server research at IDC Asia Pacific, the expansion in the telecommunications segment combined with government-led Internet & infrastructural initiatives enabled the China server market to grow 26 percent annually by revenue in 1999. "This agreement gives us an extensive distribution channel encompassing the whole of China," said Alan Pettit, vice president, pacific, for Citrix. "With Beijing Stone Investments' extensive knowledge and connections throughout China, Citrix is well-positioned to take full advantage of the anticipated strong demand for server-based and application portal software Portal Software was founded in 1985 as Portal Information Network, one of the first ISPs in the San Francisco Bay Area. It was founded by John Little. The company offered its own interface through modem access that featured Internet email. in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China." "China has experienced vast growth in Internet subscribers over the past year and as businesses become more aware of the concept of the Application Service Provider (ASP) business model, the value of e-commerce and e-procurement, they will be able to minimize total cost of ownership (TCO (1) (Total Cost of Ownership) The cost of using a computer. It includes the cost of the hardware, software and upgrades as well as the cost of the inhouse staff and/or consultants that provide training and technical support. See ROI. ) and be able to concentrate on their core business through the use of Citrix software," Petit PETIT, sometimes corrupted into petty. A French word signifying little, small. It is frequently used, as petit larceny, petit jury, petit treason. PETIT, TREASON, English law. The killing of a master by his servant; a husband by his wife; a superior by a secular or religious man. added. TCO refers to the total cost of IT services. According to Zona Research, a server-based approach to computing such as Citrix(R) Systems' Independent Computing Architecture Independent Computing Architecture (ICA) is a proprietary protocol for an application server system, designed by Citrix Systems. The protocol lays down a specification for passing data between server and clients, but is not bound to any one platform. (ICA Ica (ē`kä), city (1993 pop. 108,724), capital of Ica dept., SW Peru, on the Pan-American Highway. It is a commercial center for the cotton, wool, and wine produced in the region. There are several summer resorts nearby. (R)), can reduce TCO by as much as 57% (1). About Beijing Stone Investments Co. Ltd. The Group's turnover is derived principally from the manufacture, distribution and sale of computers, electronic, electrical and telecommunications products, and office equipment. The Group operates primarily outside Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. in the People's Republic of China (PRC) where its existing manufacturing facilities and distribution network are based. The Group's activities in Hong Kong include the sourcing of computers, electronic, electrical and telecommunications products, office equipment and component parts for processing, distribution and sale in the PRC. Further information may be obtained from their website at www.stone-invest.com or www.stone.com.hk. About Citrix Systems Citrix Systems, Inc. is a global leader in application server software and services that offer "Digital Independence(TM)" - the ability to run any application on any device over any connection, wireless to Web. Citrix's solutions enable organizations of all types, from major enterprises to emerging application service providers (ASPs), to reach more users, with more applications, in more locations - and achieve this with greater speed and predictability, and lower costs. Its products, including MetaFrame(TM) application server software, NFuse(TM) application portal software, and Independent Computing Architecture (ICA), a core application-server technology, have been widely adopted by the corporate mainstream to achieve key business goals. The firm, which markets its solutions through value-added resellers, system integrators and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and licensees, is headquartered in Fort Lauderdale, Florida Fort Lauderdale, known as the "Venice of America" due to its expansive and intricate canal system, is a city in Broward County, Florida, United States. The city's population is described as metropolitan, where diverse culture is commonplace. According to 2006 U.S. . Citrix is traded on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (SM) under the symbol CTXS and is part of the Standard & Poor's 500 Index. For more information, please visit the Citrix Web site at http://www.citrix.com. For Citrix Investors This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions 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 regarding current or future financial performance, management's plans and objectives for future operations, product plans and performance, management's assessment of market factors, as well as statements regarding the strategy and plans of the company and its strategic partners, 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, risks associated with the following: the success of the company's MetaFrame product line and the acceptance of the company's ICA protocol; the company's ability to develop and commercialize new products and services; the company's success in expanding into new geographic markets, the company's ability to expand its core business in large enterprise accounts, the company's ability to succeed in the transition to a paper/electronic licensing model; the size, timing and recognition of revenue from significant orders; increased competition, including potential competition from Microsoft and other companies; the results of the company's iBusiness and other new licensing programs; the rate of growth of the ASP market; and the company's ability to continue to develop and market products to meet the requirements of this market; the proportion of revenues devised from distributors, OEMs and other channels; changes in the company's pricing policies or those of its competitors, including Microsoft; the costs of developing, acquiring, or integrating new technologies or enhancements to existing products; the company's reliance upon its strategic relationships with Microsoft and other strategic partners; management of growth; the possibility of undetected software errors; dependence on proprietary technology; risks that the company's branding campaign will not enhance the company's business or results in the manner anticipated; as well as risks of downturns in economic conditions generally, and in the software industry specifically, and risks associated with competition and competitive pricing pressures 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 in this press release or with respect to the announcements described herein. (1) Zona Research, Inc, Desktop Clients - A Cost of Ownership Study, Spring 1996 Citrix(R), ICA(R), MetaFrame(TM), NFuse(TM)and Digital Independence(TM)are registered trademarks or trademarks of Citrix Systems, Inc. in the U.S. and other countries. All other trademarks and registered trademarks are property of their respective owners. |
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