Citrix 2012 Annual Report Download - page 84

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F-18
3. ACQUISITIONS
2012 Acquisitions
Podio
In April 2012, the Company acquired all of the issued and outstanding securities of Podio ApS (“Podio”), a privately-held
provider of a cloud-based collaborative work platform. Podio became part of the Company's Online Services division and
expands the Company's offerings of integrated cloud-based support for team-based collaboration. The total consideration for
this transaction was approximately $43.6 million, net of $1.7 million of cash acquired, and was paid in cash. Transaction costs
associated with the acquisition were approximately $0.5 million, all of which the Company expensed during the year ended
December 31, 2012 and are included in General and administrative expense in the accompanying consolidated statements of
income. In addition, in connection with the acquisition, the Company assumed non-vested stock units which were converted
into the right to receive up to 127,668 shares of the Company's common stock, for which the vesting period reset fully upon the
closing of the transaction.
Bytemobile
In July 2012, the Company acquired all of the issued and outstanding securities of Bytemobile, Inc. (“Bytemobile”), a
privately-held provider of data and video optimization solutions for mobile network operators. Bytemobile became part of the
Company's Enterprise division and extends the Company's industry reach into the mobile and cloud markets. The total
consideration for this transaction was approximately $399.5 million, net of $5.6 million of cash acquired, and was paid in cash.
Transaction costs associated with the acquisition were approximately $2.1 million, all of which the Company expensed during
the year ended December 31, 2012 and are included in General and administrative expense in the accompanying consolidated
statements of income.
2012 Other Acquisitions
During the first quarter of 2012, the Company acquired all of the issued and outstanding securities of a privately-held
company for total cash consideration of approximately $24.6 million, net of $0.6 million of cash acquired. This business
became part of the Company’s Enterprise division. Transaction costs associated with the acquisition were approximately $0.5
million, of which the Company expensed $0.4 million and $0.1 million during the years ended December 31, 2012 and 2011,
respectively, and are included in General and administrative expense in the accompanying consolidated statements of income.
In addition, in connection with this acquisition, the Company assumed non-vested stock units which were converted into the
right to receive up to 13,481 shares of the Company's common stock and assumed certain stock options which are exercisable
for 12,017 shares of the Company's common stock, for which the vesting period reset fully upon the closing of the transaction.
During the second quarter of 2012, the Company acquired all of the issued and outstanding securities of two privately-
held companies for a total cash consideration of approximately $15.4 million, net of $0.2 million of cash acquired. The
businesses became part of the Company's Enterprise division. Transaction costs associated with the acquisitions were
approximately $0.4 million, all of which the Company expensed during the year ended December 31, 2012 and are included in
General and administrative expense in the accompanying consolidated statements of income. In addition, in connection with
the acquisitions, the Company assumed non-vested stock units which were converted into the right to receive, in the aggregate,
up to 66,459 shares of the Company's common stock, for which the vesting period reset fully upon the closing of each
respective transaction.
During the third quarter of 2012, the Company acquired all of the issued and outstanding securities of two privately-held
companies for a total cash consideration of approximately $5.3 million. One of the businesses became part of the Company's
Enterprise division and the other became part of the Company's Online Services division. Transaction costs associated with the
acquisitions were approximately $0.2 million, all of which the Company expensed during the year ended December 31, 2012
and are included in General and administrative expense in the accompanying consolidated statements of income. In addition, in
connection with the acquisitions, the Company assumed non-vested stock units which were converted into the right to receive,
in the aggregate, up to 13,487 shares of the Company's common stock, for which the vesting period reset fully upon the closing
of each respective transaction.
The five acquisitions discussed in this section captioned 2012 Other Acquisitions will collectively be referred to herein as
the "2012 Other Acquisitions".
CITRIX SYSTEMS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS