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Citrix (CTXS) Digital Workspace Solutions Adopted by Alstom

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Citrix Systems digital workspace solutions continue to witness strong momentum amid pandemic-induced remote and hybrid work innovation.

Recently, Citrix announced that France-based Alstom deployed the company’s digital workspace solutions (Citrix Virtual Apps and Desktops and Citrix ADC) to provide safe and secure access to the apps and information required by Alstom engineers to complete work from anywhere and anytime.

With the help of Citrix workspace solutions, Alstom was able to extend the access of its essential 3D CAD software to its engineers without compromising on the flexibility and the speed, noted Citrix. Alstom’s in-house CAD solution  requires strong graphics workstations and a low-latency local network to deliver optimum results.

Citrix’s workspace solutions and cloud services were utilized by Markerstudy and União Brasileira de Educação Católica (“UBEC”). The company has more than 400,000-strong clientele base that leverages its wide-ranging digital workspace and security solutions.

Apart from Citrix ADC and Virtual Apps and Desktop solution, Citrix portfolio also includes solutions like Citrix SD-WAN, Citrix Endpoint Management and Citrix Secure Workplace Access.

Citrix also announced that Citrix ADC version 12.1 achieved Common Criteria Certification. The company noted that the accreditation would make it easier for procurement professionals, especially in the public sector, to purchase the Citrix ADC solution quickly and in alignment with the policies to boost hybrid work adoption.

 

Citrix delivered revenues of $851 million, up 5% on a year-over-year basis in the last reported quarter. In January 2022, the company’s management also announced that affiliates of Vista Equity Partners and Elliott Investment Management L.P are set to acquire the company (including all debt) in an all-cash deal worth $16.5 billion. Citrix is likely to be combined with one of Vista’s portfolio companies — TIBCO Software.

The transaction, approved by the Citrix board of directors, is expected to close by the mid of 2022, subject to regulatory and customary closing conditions. Post the takeover, Citrix will become a private company but will hold on to its brand name and retain headquarters at Fort Lauderdale, FL.

Citrix currently has a Zacks Rank #2 (Buy). Shares of CTXS have lost 26.2% against the industry’s rise of 17.5% in the past year.

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