Citrix Systems Opens Subsidiary in India.Business Editors NEW DELHI New Delhi (dĕl`ē), city (1991 pop. 294,149), capital of India and of Delhi state, N central India, on the right bank of the Yamuna River. , India--(BUSINESS WIRE)--July 26, 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) ) today announced it has opened a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. - Citrix Software Limited - in Bangalore, India, to serve as headquarters for Citrix Systems in India and accelerate its expansion in the Asia Pacific region. Today's announcement follows Citrix's April 14, 2000 acquisition of India's PowerTel BOCA BOCA Building Officials and Code Administrators International, Inc. BOCA Bird Observers Club of Australia BOCA Business Object Component Architecture BOCA Borland Object Component Architecture (Borland) Ltd., an Internet solutions and services company. Announcing the formation of the wholly owned subsidiary in India, Mr. Nabeel Youakim, managing director, Citrix Systems Asia Pacific stated, "The setting up of the 100% subsidiary is a reflection of Citrix's commitment to our customers and strategic alliance members in India, a commitment in terms of making available our latest products, services and support. Citrix Software Limited will enable the Company to acquire a leadership position in the application server technology and ASP (Application Service Provider) markets in India." The company also announced the structure of its new India Operations. Citrix Software Limited will report to Citrix's Asia Pacific headquarters in Sydney, Australia, and will be headed by managing director, Mr. Dinesh Puri, who was previously managing director of PowerTel BOCA. Mr. Puri will be joined by PowerTel BOCA's entire management team, including S. Mohan as business development director, Udian Patel as services director and Sarat Chegu as financial controller, who between them have over 70 years experience in India's IT industry. Anil Menon, who has been responsible for driving Citrix sales across India since August 1999 as Citrix's regional manager, India, will join the new company in the role of marketing director. Citrix has also made offers to the remainder of PowerTel BOCA's current workforce of 45 employees and is pleased to announce that all of them have accepted, making Citrix Software Limited a 46 - strong company. Mr. Nabeel Youakim, managing director for Citrix Systems Asia Pacific, said that Citrix will honor and fulfill all of PowerTel's existing contracts by providing the highest level of service to its entire database of clients and partners. "Current customers and partners will continue to enjoy the strong relationships they have developed with Dinesh and his team," said Mr. Youakim. "At the same time, the new company will leverage Citrix's application server expertise to offer them unique new ways to reduce the complexity, time and resources required to install, manage and upgrade their systems." With its commitment to `Digital Independence(TM)' - the ability to run any application on any device over any connection, wireless to Web - Citrix Software Limited will target organizations of all types, from major enterprises to emerging Applications Service Providers (ASPs). The company will focus strongly on developing new business opportunities in the Windows(R) and UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). (R) marketplaces. Datapro is currently Citrix's sole distributor in India and caters to the Indian market through the 25+ channel members in place today. To further extend the reach of its products and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services across the country, a key focus for the company would be to continue to build relationships with their channel partners and expand their channel network under its worldwide Citrix Solutions Network(TM) (CSN CSN Crosby, Stills, and Nash (band) CSN Centrala studiestödsnämnden (Swedish: state education grant and loan program) CSN Confédération des Syndicats Nationaux (French) ) business program. The CSN is made up of leading 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 consultants who produce innovative, high-performance application server software solutions that meet the needs of all types of customers in many different industries. "With an increasing number of Indian businesses realizing the benefits of application server computing Citrix's term for its centralized, multiuser technology that runs the application in the server and sends only changes in the user interface to the client machine. See MetaFrame and WinFrame. , Citrix's growth potential here is enormous," said Mr. Dinesh Puri, managing director of Citrix Software Limited. "In particular, Citrix's new MetaFrame(TM) for UNIX products, which extend the reach of UNIX applications to users on a broad array of devices, will transform the business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets of the many organizations in India that currently operate UNIX environments." Citrix has acquired all of PowerTel BOCA's existing assets, and will continue to operate PowerTel BOCA's four regional offices in New Delhi, Mumbai, Chennai and Hyderbad. 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 application server software, NFuse(TM) 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. , and 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)), 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 Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla. 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. Citrix(R), MetaFrame(TM), ICA(R), NFuse(TM) Digital Independence(TM), and Citrix Solutions Network(TM) are registered trademarks or trademarks of Citrix Systems, Inc. in the U.S. and other countries. UNIX(R) is a registered trademark of The Open Group in the U.S. and other countries. Microsoft(R) and Windows(R) are registered trademarks of Microsoft Corporation (company) Microsoft Corporation - The biggest supplier of operating systems and other software for IBM PC compatibles. Software products include MS-DOS, Microsoft Windows, Windows NT, Microsoft Access, LAN Manager, MS Client, SQL Server, Open Data Base Connectivity (ODBC), MS Mail, . All other trademarks and registered trademarks are property of their respective owners. |
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