Citrix Startup Accelerator Announces First Investment

Citrix Systems today announced an investment in Primadesk, marking the first funding commitment for the Citrix Startup Accelerator, its Silicon Valley-based seed investment initiative launched in December 2010. Primadesk, based in Novato, Calif., helps users search, manage and backup their personal cloud data with one simple interface no matter what device they use. A beta version of the Primadesk technology will be demonstrated on stage today at DEMO 2011 in Palm Desert, Calif.

“Primadesk and Citrix share a synergistic vision,” said Srinivasa Venkataraman, CEO & Founder, Primadesk. “Primadesk gives users a simple way to manage their personal and professional information from any browser at any time, which fits right into the Citrix vision of enabling anyone to work and play anywhere on any device. The global presence Citrix has, as well as its entrepreneur-friendly environment, large customer base and seasoned go-to-market strategies, will be prime assets for us as we join the Citrix Startup Accelerator program.”

The Citrix Startup Accelerator is focused on entrepreneur-led innovation, providing participating companies with seed funding, mentoring, office space in an open innovation center and access to the global Citrix ecosystem. By fostering technologies and business models that align with the long term Citrix strategy, the Citrix Startup Accelerator is differentiated from funds that focus solely on fund maximization. “Our goal is to equip our portfolio entrepreneurs with the key resources that will help them achieve the rapid market and customer validation that will ensure them a timely transition into successful businesses,” said Martin Duursma, Vice President, Citrix Labs and Chair of the Citrix CTO Office. “By providing access to our deep technical resources, business mentoring and global network, we believe we can greatly increase the chances that Primadesk and our future portfolio companies will succeed.”

Related Links

Citrix Startup Accelerator page
Primadesk web site
Blog: Do You Innovate? Do You Have What it Takes to Become Really Great? by Martin Duursma, VP of Citrix Labs and Chair of the Citrix CTO Office
Blog: The Big Things in Life by John McIntyre, Sr. Director, Citrix Startup Accelerator
Blog: Are YOU Going to be the Next Hot Technology Innovator? by Michael Harries, Sr. Director, Citrix Startup Accelerator

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About Citrix

Citrix Systems, Inc. (NASDAQ:CTXS) is a leading provider of virtual computing solutions that help companies deliver IT as an on-demand service. Founded in 1989, Citrix combines virtualization, networking, and cloud computing technologies into a full portfolio of products that enable virtual workstyles for users and virtual datacenters for IT. More than 230,000 organizations worldwide rely on Citrix to help them build simpler and more cost-effective IT environments. Citrix partners with over 10,000 companies in more than 100 countries. Annual revenue in 2010 was $1.87 billion.

About Primadesk, Inc.

Primadesk makes online life easier to manage, enabling users to search, manage and backup personal cloud data from anywhere, whether it is from a personal computer, tablet or smartphone. Primadesk was founded in 2009 by two entrepreneurs who recognized the growing need for making Internet-based applications and online information secure, easier to use and to interact with. For more information on Primadesk, please go to www.primadesk.com.

For Citrix Investors

This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the impact of the global economy and uncertainty in the IT spending environment, revenue growth and recognition of revenue, products and services, their development and distribution, product demand and pipeline, economic and competitive factors, the Company’s key strategic relationships, acquisition and related integration risks as well as other risks detailed in the Company’s filings with the Securities and Exchange Commission. Citrix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

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