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

Though Wages in Japan Increase But It’s not Enough to Beat Inflation
Jack Ma Prepares for Second Alibaba IPO
RBA Feels Currency Overrated: Keeps Record Low Benchmark Rate
U.S. Business Lobby Express Concerns Saying Antitrust Probes in China Unfair
First dengue fever outbreak in 70 years in Japan
Rise in skin cancer due to cheap holidays
Cardio and wine is a great combination
Surrogacy is a form of exploitation: Ekman
Cuba Trims Down on Amount of Goods Which can be Carried by Travellers
Barclays Will Sell Its Spanish Businesses To CaixaBank In a Deal of 800 Million
Withdrawal in China’s Purchasing Managers' Index Amplifies Calls for Policy Easi
The Ukraine Mayhem Leads Euro to a Fresh One Year Low