BUYING: Fort Lauderdale-based Citrix is acquiring Sapho, a venture-backed California startup that provides micro enterprise app development platform for older software.
The price: About $200 million in cash. The Sapho team of 90 employees, based mainly in Silicon Valley, will be joining Citrix, TechCrunch reported.
Citrix, an enterprise IT company that is South Florida’s biggest tech company, told the Sun Sentinel it will use Sapho to enhance capabilities within Citrix’s Workspace, which allows workers to access their apps remotely. The publicly traded Citrix employs 1,600 in South Florida and had $2.82 billion in revenue in 2017. Through restructuring, its CEO, David Henshall, has been moving the company to a more hybrid cloud model. Citrix will be reportedly bringing in all of Sapho’s products. Sapho had raised around $27 million in VC funding.
SELLING: Farelogix, a Miami-based travel software company, is being acquired by Sabre Corp.
According to the South Florida Business Journal, the Texas-based Sabre agreed to pay about $360 million in cash and debt for Farelogix, a company with projected 2018 revenue of $40 million.
Farelogix serves a who’s who list of airlines and aims to increases sales for carriers through revenue streams such as merchandizing. Read the Business Journal story here.
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