Citrix Systems buys Vapps Inc. for $2.26 million

.

Citrix SystemsFlorida-based Citrix Systems Inc. has acquired venture capital-backed start-up company Vapps Inc. for $26.6 million. Citrix Systems makes software and machinery that helps companies remotely manage their applications.

According to latest sources, if Vapps continues to perform well, it will get an additional $4.4 million funding from Citrix. The deal is a small one, but Azure Capital Partners, the largest investor in Vapps, said that it received a 3.6 times return on its investment over 18 months. It amounts to a 125 percent internal rate of return for Azure. The acquisition marks Azure Capital's third exit this year.

Last month, eBay Inc. bought Azure-funded Bill Me Later, an online payments service, for $945 million. While in January, Azure sold WorldWide Packets to network solutions provider Ciena Corp. for $300 million. Vapps, Inc. is a technology company utilizing its patent-pending audio conferencing technology to provide managed audio conferencing solutions to the SMB, Enterprise and Service Provider markets.

Citrix disclosed the acquisition in its Nov 5 regulatory filing. Shares of Citrix closed down 61 cents or 3 percent at $22.95 on Nasdaq. The 52-week high for the stock was $39.32 on Nov. 15 and a 52-week low of $19 on Oct. 10.


Latest News

Apple releases new app for Apple TV --- ‘iBooks StoryTime’
Al Gore wants to work with Trump to tackle climate change
Martian show home opened at London’s Royal Observatory
Apple officially starts selling refurbished versions of previous iPhones
Google Capital re-branded as ‘CapitalG;’ Snapchat added to its list of investmen
Facebook
White House’s plans for "digital transition" between Obama administration and ne
Microsoft's first desktop computer --- ‘Surface Studio’
Professor writes ‘prank’ physics paper using iOS autocomplete
Twitter plans to shrink its workforce by about 8%
Elon Musk talks about SpaceX’s plans to test ITS’ huge fuel tank at sea
Hackers cut access to some of the world's best known websites on Friday