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

Although Scientists say GMOs are Safe to Eat But it is Not Easy to Convince Ever
Central States Pension Fund has No New Recovery Plan Seeks Legislation to Protec
Does Fewer Opioid Prescriptions in the U.S Reflect a Curb in the Wave of Addicti
Japan’s Exports Drop further in April adding to a Gloomy Outlook
The Long Drawn Battle for Control Over Sumner Redstone’s Trust Takes New Turn
April Payrolls Reflect Significant Increases in Eleven US States
Bids for Yahoo may Not Match Earlier Expectations
Tribune Publishing and Garnet Company Carry on with Takeover Battle
Oregon Governor asks glass firm to halt production amid pollution concerns
G7 finance ministers to meet on Friday
Bayer AG makes unsolicited offer for Monsanto