Citrix Systems (CTXS) announced it has acquired Sapho for an undisclosed amount.
Sapho is an enterprise micro application software company.
With the acquisition, CTXS is gaining software technologies that appeal to younger generation demographic workers, who seek simpler software solutions to quickly achieve targeted tasks.
The deal makes strategic sense as Citrix seeks to reignite revenue growth.
San Bruno, California-based Sapho was founded in 2014 to improve employee productivity by empowering them with access to ‘micro applications’ – tools, activities, and tasks in a seamless work feed.
Management is headed by Co-Founder and CEO Fouad ElNaggar, who was previously Chief Strategy Officer at CBS Interactive.
Below is an overview video of the company’s offerings:
Sapho’s primary benefits include:
- Unified experience
- Intelligent integration
- Modern tooling
- Consolidated security
Investors have invested at least $27 million in the company and include AME Cloud Ventures, Great Oak Venture Capital, Caffeinated Capitals, Felicis Ventures, Uncork Capital, Bloomberg Beta, Morado Ventures, among others. Source: VentureDeal Venture Capital Database
Source: Seeking Alpha