Nasdaq-listed Citrix buys Wellington-based Beetil
Citrix, which supplies cloud-based IT services to businesses and has a market cap of $US15 billion, has bought the Kiwi firm for an undisclosed sum.
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BUSINESSDESK: Nasdaq-listed Citrix Systems, which supplies cloud-based IT services to businesses and has a market cap of $US15 billion, has bought Wellington-based software firm Beetil Service Management for an undisclosed sum.
The acquisition is effective from today and will absorb the existing Beetil team into its IT support unit, adding an integrated IT service desk to its product line, Citrix says.
Beetil chief executive and biggest shareholder Dan Lee will report to Citrix's general manager of IT support Elizabeth Colawsky in Santa Barbara, California.
"This acquisition reinforces our commitment to meeting the growing demand of our customers and the market for a simpler and integrated approach to IT support," says Brett Caine, GM of online services at Citrix.
Beetil is the latest local tech firm sold to an overseas buyer this year, joining software firm Superstructure Group, contact centre software provider Zeacom, NZ Post's Electronic Commerce Network, and radio products developer 4RF.
Shares in Citrix fell 0.3% to $US80.34 on the Nasdaq yesterday, having climbed by a third this year.
Paul McBeth
Wed, 11 Jul 2018
Wed, 11 Jul 2018
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Nasdaq-listed Citrix buys Wellington-based Beetil
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