Citrix Systems Latest from The Business Journals Citrix invests in Graymatics for cloud video technologyCitrix invests in GraymaticsGame company rockets ahead with changes at Sawgrass Mills Follow this company has made an investment in Core Mobile Networks, a company that correlates information from enterprise systems with content in the cloud and delivers it to mobile devices.
Santa Clara, Calif.-based Core Mobile will initially target mobile business professionals using the Apple
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Fort Lauderdale-based Citrix (NASDAQ: CTXS) is the largest software company based in South Florida, with $1.87 billion in revenue and $277 million in profit in 2010.
This is the third investment for the Citrix Startup Accelerator, which looks for new technologies and business models that have the potential to enable new capabilities in areas such as virtualization, cloud, mobility, networking, security, storage, collaboration and software as a service. The initiative not only provides seed investments to select startups, but enables them to benefit from the global Citrix presence, its entrepreneur-friendly environment, large customer base and seasoned go-to-market strategies, according to a news release.
The investment in Core Mobile follows funding commitments made to Primadesk and an undisclosed company.
“The popularity of the cloud and rapid growth in smartphone and tablet adoption by business users is creating the need for enterprise IT to make cloud-based services more easily accessible from mobile devices,” Core Mobile CEO Chandra Tekwani said. “The Citrix vision for enabling anyone to work and play anywhere on any device really resonated with our business goals, making it a natural next step to join the Citrix Startup Accelerator program to help us propel our momentum.”
“Core Mobile addresses a gap in delivering useful content to end users of cloud-based services with a technology that identifies the most relevant subset of content, correlates it across multiple sources, and delivers it via a user-friendly interface that fits the small display of a smartphone – all in real time,” said John McIntyre, senior director of Citrix Startup Accelerator. “The goal of the Citrix Startup Accelerator is to equip innovative entrepreneurs like Core Mobile with the key resources that will help them achieve the rapid market traction and customer validation that will help make their ideas a reality.”
Citrix shares closed Monday at $74.79. The 52-week high was $88.49 on June 1. The 52-week low was $41.62 on July 2.
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