Citrix, Sequoia Software Merger Complete

Citrix Systems has completed its acquisition of Sequoia Software Corp., a provider of XML-based portal software. In addition, Marvin Adams, vice president and CIO for Ford Motor Company (and a previous director of Sequoia Software), has joined Citrix's board of directors.

Citrix acquired Sequoia in an all-cash transaction, structured as a $5.64 per share tender offer followed by a merger, valued at $184.6 million in the aggregate. With the merger completed, Citrix intends to file a Form 15 with the Securities and Exchange Commission, which will terminate the registration of Sequoia's common stock and suspend Sequoia's reporting obligations under the Securities and Exchange Act of 1934. Under terms of the acquisition, Citrix will integrate Sequoia along functional lines. Mark Wesker, Sequoia's founder and president, will join Citrix as Vice President of Internet strategy, and Rick Faint, Sequoia's CEO, will oversee the integration effort.

Mark Templeton, President of Citrix, says the acquisition positions Citrix to deliver a more complete application services platform. "Our customers asked us to extend the capabilities of Citrix NFuse application portal and MetaFrame, our application serving software, to include Web content, Web applications and Web services," he notes. "We now have a robust suite of XML-based products and technologies to be able to give our customers exactly what they've asked for - the ability to easily use any device to find and get connected to any information from anywhere."

Templeton said the two company's products, personnel and sales models greatly complement each other, and will help Citrix execute on one of its key strategies of expanding application serving within the enterprise.He added that mid-market customers, already well served by the reseller channel, will benefit from the creation of new products based on the same technologies.

For more information, visit www.citrix.com (new window).