BUYING: Fort Lauderdale-based Citrix is acquiring Sapho, a venture-backed California startup that provides micro enterprise app development platform for older software.
The price: About $200 million in cash. The Sapho team of 90 employees, based mainly in Silicon Valley, will be joining Citrix, TechCrunch reported.
Citrix, an enterprise IT company that is South Florida’s biggest tech company, told the Sun Sentinel it will use Sapho to enhance capabilities within Citrix’s Workspace, which allows workers to access their apps remotely. The publicly traded Citrix employs 1,600 in South Florida and had $2.82 billion in revenue in 2017. Through restructuring, its CEO, David Henshall, has been moving the company to a more hybrid cloud model. Citrix will be reportedly bringing in all of Sapho’s products. Sapho had raised around $27 million in VC funding.
SELLING: Farelogix, a Miami-based travel software company, is being acquired by Sabre Corp.
According to the South Florida Business Journal, the Texas-based Sabre agreed to pay about $360 million in cash and debt for Farelogix, a company with projected 2018 revenue of $40 million.
Farelogix serves a who’s who list of airlines and aims to increases sales for carriers through revenue streams such as merchandizing. Read the Business Journal story here.
Follow Nancy Dahlberg on Twitter @ndahlberg. Have a news tip? Email [email protected]
- 5+ things to know in #MiamiTech: Miami air taxi dream gains steam; VC firm creation soars in Florida, Novo’s 2021 hiring spree and more - September 17, 2021
- Dreamy waterfront homes draw Pacaso, a proptech unicorn that eases 2nd-home co-ownership, to Miami - September 16, 2021
- Crypto data startup Amberdata raises $15M Series A led by Citi - September 15, 2021