As massive organizations grapple with adopting trendy work practices with out throwing out all of their legacy software program, an organization that works with them is making an acquisition that it hopes will assist with that course of. Citrix right now is saying that it has acquired Sapho, a startup that develops “micro apps” for legacy software program in order that employees might use them as they might extra trendy purposes: within the cloud, on cellular and extra.
We perceive that the acquisition was for round $200 million in an all-cash deal. It’s return: Sapho had raised just below $28 million since 2014 from buyers that included AME Cloud Ventures, Louie Alsop, Felicis Ventures and extra. Together with co-founders Fouad ElNaggar and Peter Yared, the entire workforce of 90 workers, based mostly primarily within the Bay Space and a growth workplace in Prague, will likely be becoming a member of Citrix.
Citrix, for its half, at the moment has a market cap of about $14 billion and has been seeing a surge of curiosity below new CEO David Henshall, who has repositioned it from focusing primarily on digital personal networking companies to a extra hybrid cloud mannequin, following a wider development on the earth of enterprise IT.
Citrix will likely be bringing on all of Sapho’s present enterprise and merchandise. The 2 corporations have already got a powerful overlap of their buyer bases, CEO ElNaggar mentioned, and it was in reality a number of of these clients asking for extra integrations with Citrix companies that drove Citrix approaching Sapho for this deal.
“The biggest corporations on the earth are utilizing Citrix and have a large hybrid atmosphere the place they should present a extra partaking set of experiences for his or her workers,” Tim Minahan, EVP Enterprise Technique and CMO of Citrix, mentioned in an interview. “It doesn’t imply they are going to rip every little thing out and put in new software program, and Sappho gives an effective way to leverage that infrastructure and make them extra insightful of their resolution making. We see it as a technique to rethink the function that enterprise apps play of their atmosphere.”
Typical duties that Sapho right now gives integrations for by tapping into legacy software program embrace expense reporting, gross sales software program, IT assist tickets and HR duties. It feeds information from these into companies like Microsoft Groups, Microsoft Dynamics, Oracle’s EBS, Salesforce and SAP ERP, Workday, Google Drive and extra.
Forward of Citrix shopping for Sapho we’d heard that IBM and Microsoft had eyed up the corporate and entered into early talks, underscoring the work Sapho had completed, the offers it was profitable and the hole out there that it was filling.