M&A Deal Summary

Citrix Acquires Ardence

On December 20, 2006, Citrix acquired software company Ardence from Envest Private Equity and Capital Resource Partners

Acquisition Highlights
  • This is Citrix’s 7th transaction in the Software sector.
  • This is Citrix’s 9th transaction in the United States.
  • This is Citrix’s 1st transaction in Washington.

M&A Deal Summary

Date 2006-12-20
Target Ardence
Sector Software
Buyer(s) Citrix
Sellers(s) Envest Private Equity
Capital Resource Partners
Deal Type Add-on Acquisition
Advisor(s) Covington Associates (Financial)

Target

Ardence

Waltham, Washington, United States
Ardence, Inc. is a provider of embedded software and services for Windows-based Intelligent Connected Equipment (ICE).

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Buyer(S) 1

Buyer

Citrix

Fort Lauderdale, Florida, United States

Category Company
Founded 1989
Sector Software
Revenue 3.2B USD (2020)
DESCRIPTION
Citrix System's corporate headquarters in Fort Lauderdale, Florida.
Citrix System's corporate headquarters in Fort Lauderdale, Florida.

Citrix develops and sells products and services that enable the secure and reliable delivery of applications and data over public, private, or hybrid clouds or networks, to virtually any type of device. The Company markets and licenses its products directly to customers, over the Web, and through systems integrators, or SIs, in addition, to indirectly through value-added resellers, or VARs, value-added distributors, or VADs, original equipment manufacturers, or OEMs and service providers. Citrix was established in 1989 and is based in Ft. Lauderdale, Florida.


DEAL STATS #
Overall 10 of 42
Sector: Software M&A 7 of 23
Type: Add-on Acquisition M&A Deals 10 of 40
State: Washington M&A 1 of 1
Country: United States M&A 9 of 33
Year: 2006 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-07 Orbital Data

San Mateo, California, United States

Orbital Data Corp. is a software provider of solutions that optimise the delivery of applications over wide area networks (WANs). As an emerging leader in the fast-growing WAN optimisation market

Buy $50M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-05 QuickTree

San Jose, California, United States

QuickTree, Inc., a small privately-held software technology provider on the forefront of addressing the key security and performance challenges of XML and web services.

Buy -

Seller(S) 2

SELLER

Envest Private Equity

Virginia Beach, Virginia, United States

Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1999
PE ASSETS 162M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Envest Private Equity is a private equity firm that targets East Coast US-based opportunities. Envest prefers businesses operating in basic industries with experienced management and a competitive market positions. Sectors of interest include financial services, franchising, manufacturing, healthcare services, travel and entertainment, and software/IT. The Firm's investment size range is $2 to $7 million. Envest was formed in 1999 and is based in Virginia Beach, Virginia.


DEAL STATS #
Overall 6 of 12
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 3
State: Washington M&A 1 of 1
Country: United States M&A 6 of 12
Year: 2006 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-05 VISICU

Baltimore, Maryland, United States

VISICU, Inc. is a healthcare information technology and clinical solutions company focused on critical care. The benefit of this approach to ICU patient care is that, by tracking each patient on a full time basis, problems can be addressed as they arise, reducing avoidable complications and thus lengths of stay.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-21 EndoChoice Holdings

Alpharetta, Georgia, United States

EndoChoice, Inc. is a medtech company focused on the manufacturing and commercialization of platform technologies including endoscopic imaging systems, devices and infection control products and pathology services for specialists treating a wide range of gastrointestinal conditions, including colon cancer.

Buy -
SELLER

Capital Resource Partners

Wellesley, Massachusetts, United States

Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 1.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Capital Resource Partners (CRP) is a provider of debt and equity capital to lower middle-market companies throughout the United States. CRP typically provides $1 to $15 million of junior capital to support 'late-stage expansion, recapitalization, and incremental acquisition investments'. Target companies are generally profitable with at least $5 million in annual sales. Sectors of interest include business services, consumer products and services, healthcare services, proprietary industrial products and services, and software/information services. Capital Resource Partners was formed in 1987 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 13 of 34
Sector: Software M&A 1 of 3
Type: Add-on Acquisition M&A Deals 8 of 18
State: Washington M&A 1 of 1
Country: United States M&A 13 of 32
Year: 2006 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-16 Athletes Performance

Phoenix, Arizona, United States

Athletes' Performance, Inc. is a provider of integrated performance training, nutrition and physical therapy for elite athletes, military and corporations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-31 eCollege.com

Denver, Colorado, United States

eCollege.com is a full range of on-demand software services including course management, virtual campuses, and assessment, reporting and retention monitoring tools.

Sell $477M