Mergers News

Citrix Systems says to double Asia revenue by 2012

SINGAPORE, Aug 23 (Reuters) - U.S. infrastructure software maker Citrix Systems Inc CTXS.O is aiming to double its revenue from Asia Pacific to 20 percent of the company's total by 2012.

The company, which recently agreed to buy privately held XenSource Inc. in a $500 million deal, will continue to look for acquisitions that could add value to its products, Dennis Rose, who heads Citrix’s business in the region, told Reuters.

“We will look in all parts of the world. Our strategy of growth is not predicated on M&A but M&A happens to be a part of that,” he said in an interview on Thursday in Singapore.

Rose said although the Asia Pacific contribution to Citrix’s worldwide revenue is just 9 percent, the number of companies in the region that have installed its software grew 27 percent last year from 22,000 to 28,000.

The region accounts for a small part of Citrix’s global installed software base of 200,000 companies, but Rose said the potential for growth was huge in the region.

“Taking just the core business we (in Asia Pacific) are chartered to get 20 percent of the company’s revenue by 2012. And that’s only getting us to where we should be because 20 percent of global IT spending comes from Asia Pacific.”