Citrix Systems Inc. (CTXS) Buys VMware INC. (VMW) Rival
Citrix Systems Inc. is buying 3-year-old startup XenSource Inc. for $500 million, marking the second big deal this week to highlight the bustling market for software that makes computers run more efficiently.
The cash-and-stock acquisition announced Wednesday followed the sensational stock market debut of XenSource's much-larger rival, VMware Inc., whose shares have nearly doubled from Monday's initial public offering price of $29.
VMware shares climbed $6.71 to $57.71 Wednesday, leaving the previously little-known company with a market value of about $22 billion. Only four other publicly traded software companies -- Microsoft Corp., Oracle Corp., SAP AG and Adobe Systems Inc. -- are currently worth more.
Like VMware, XenSource is based in Palo Alto and specializes in "virtualization." The term refers to software that helps computers harness more of their unused processing power and unleashes applications from a single machine in a data center.
The cash-and-stock acquisition announced Wednesday followed the sensational stock market debut of XenSource's much-larger rival, VMware Inc., whose shares have nearly doubled from Monday's initial public offering price of $29.
VMware shares climbed $6.71 to $57.71 Wednesday, leaving the previously little-known company with a market value of about $22 billion. Only four other publicly traded software companies -- Microsoft Corp., Oracle Corp., SAP AG and Adobe Systems Inc. -- are currently worth more.
Like VMware, XenSource is based in Palo Alto and specializes in "virtualization." The term refers to software that helps computers harness more of their unused processing power and unleashes applications from a single machine in a data center.
Labels: Citrix Systems Inc., CTXS, VMW, VMware Inc., XenSource Inc.
posted by Stock Administrator @ 11:47 PM
0 Comments:
Post a Comment
<< Home