Citrix To Acquire APM Ltd.; New Technologies to Enhance Citrix Thin-Client/Server Products and Advance Strategy for Enterprise Application Deployment.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.--(BUSINESS WIRE)--June 12, 1998--Citrix Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CTXS CTXS Citrix Systems (NASDAQ stock ticker symbol) ) today announced the terms of an offer to be made by Citrix to acquire all of the outstanding securities of APM (Advanced Power Management) A programming interface (API) from Intel and Microsoft for battery-powered computers that lets programs communicate power requirements to slow down and speed up components. See ACPI. APM - Advanced Power Management Ltd., parent company of Digitivity Inc., for cash in a purchase transaction valued at approximately US$40 million. With headquarters in Cambridge, England, APM is a privately held firm engaged in consulting and development of application deployment, management and security products for Java. Upon closing of the transaction, APM's development team will join Citrix at the company's new research and development center in Cambridge. "The Digitivity technology and seasoned development team will allow Citrix to expand our innovative server-based solutions to better serve both the near and long term needs of our customers," said Edward Iacobucci, Citrix' Vice President of Strategy & Technology. "Digitivity technology and experience will allow Citrix to extend the capabilities of our 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) architecture and provide more robust support for the Java environment." "We are pleased to be joining Citrix in building a truly world-class firm," said Scott Metcalf, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of APM. "This move strengthens the vision of server-based enterprise computing Refers to information technology in the larger company. See enterprise data and enterprise networking. we both share." Both boards have approved the transaction, and the companies plan to complete the transaction in June 1998, subject to customary closing conditions. Holders of over 50% of the outstanding stock of APM have irrevocably agreed to accept the offer and, pursuant to the terms of the Articles of Association of APM, Citrix will be able to acquire the remaining securities. Citrix expects to record a one-time charge to its operations of approximately US$33 million for acquisition of in-process research and development. Pricing, packaging and availability of new products based upon the acquisition will be announced at a later date. About Citrix Founded in 1989, Citrix Systems, Inc. is a leader in system software for thin-client/server computing. The WinFrame(R) product line 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(R)) thin-client/server technology are marketed through a worldwide business alliance of value-added resellers, system integrators, 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 and industry associates. Citrix is based in Fort Lauderdale, Fla. and is traded on the Nasdaq National Market under the symbol CTXS. For more information, please visit the Citrix website at http://www.citrix.com. Forward-looking statements in this release 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. 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 which involve risks and uncertainties, including, without limitation, the successful and timely development, integration and introduction of APM Ltd. technologies into the Company's existing or future products, market acceptance of the Company's new or enhanced products; and the impact of competitive products and pricing, in addition to risks associated with the company's reliance upon its strategic relationships with Microsoft and other strategic partners, dependence upon broad-based acceptance of the company's ICA protocol, management of growth, the possibility of undetected software errors, and dependence on proprietary technology. For a more detailed description of the risk factors associated with the company, please refer to the company's 1997 Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission. The Citrix(R) logo, WinFrame(R), and ICA(R) are registered trademarks of Citrix Systems, Inc. MetaFrameTM and MultiWinTM are trademarks of Citrix Systems, Inc. for which there is a pending application for registration in the U.S. Patent and Trademark Office. All other trademarks and registered trademarks are property of their respective owners. CONTACT: Citrix Systems, Inc. Scott Davidson, 954/267-2388 or APM Ltd./Digitivity Inc. Andi Bruno, 650/947-1904 |
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