Citrix Systems Inc.
), a leading provider of virtualization, networking and cloud
computing solutions has acquired New Zealand-based startup Beetil,
which offers cloud-based customer service management
Beetil prepares user friendly customer assistance software
that provides powerful incident tracking, self service,
configuration and change management functions, which in turn help
its clients to reduce their technological costs. However, none of
the companies has disclosed the financial details of the
Citrix continues to grow as virtualization and cloud computing
becomes essential for business enterprises to reduce costs and for
exploring the markets throughout the world. Instead of installing
their own virtualization and data center set up, the corporate
bodies are now sharing the cloud computing platform of dedicated
providers like Citrix and
). Research firm Gartner estimated that desktop virtualization will
be applied in 100 million personal computers by 2013.
We believe that successful integration of Beetil with Citrix's
cloud-based product offering GoToAssist will provide a flawless and
essential set of cloud-based services like remote support,
monitoring and service desk management under one roof.
Additionally, it will help the company's clients to manage their IT
support better than before thus delivering operational efficiency,
and will consolidate Citrix's position as a market leader in
delivering innovative cloud-based support service.
The current Zacks Consensus Estimate for Citrix Systems Inc. is
pegged at 49 cents for the third quarter of 2012 with a growth rate
estimate of 0.77%. For 2012, the Zacks Consensus Estimate stands at
$2.15 with a growth rate of 5.97% while for 2013, the Zacks
Consensus Estimate stands at $2.53 with a growth rate of
We retain our long-term Neutral recommendation on Citrix Systems
Inc. Currently, it has a Zacks #3 Rank, implying a short-term Hold
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