Citrix Enhances Security with Strategic Acquisitions of deviceTRUST and Strong Network
Deal News | Dec 10, 2024 | Vista Equity Partners
In response to the increasing security challenges posed by hybrid work models, Citrix, a division of Cloud Software Group Inc., has announced the acquisition of deviceTRUST GmbH and strong.network SA. These acquisitions, backed by Vista Equity Partners, are set to enhance the security capabilities of the Citrix platform. By integrating deviceTRUST's real-time contextual access technology and Strong Network's secure cloud development environments, Citrix aims to provide stronger zero-trust access controls. This move is intended to isolate and protect access to mission-critical applications in both on-premises and cloud settings. Sridhar Mullapudi, EVP and GM of Citrix, emphasizes the company's commitment to meeting the diverse user needs of its clients while reducing data loss risks. This initiative is part of Citrix's broader strategy to improve cyber resilience as businesses increasingly adopt hybrid work environments. The integration of these new technologies is designed to improve data security, streamline developer workflows, and manage secure access across various application types.
Sectors
- Cybersecurity
- Technology
- Private Equity
Geography
- United States – Citrix is a key player based in the U.S., influencing the market significantly with its strategic acquisitions.
- Germany – deviceTRUST GmbH, one of the acquired companies, is based in Germany, highlighting the geographical reach of Citrix's acquisition strategy.
- Switzerland – Strong Network SA, another acquisition, is based in Switzerland, signaling an expansion of Citrix's footprint into multiple European markets.
Industry
- Cybersecurity – The acquisitions by Citrix focus on enhancing security solutions, directly contributing to the cybersecurity sector by improving zero-trust access controls.
- Technology – Citrix's platform and the technologies from deviceTRUST and Strong Network address the broader technology industry, especially in areas related to cloud and hybrid work environments.
- Private Equity – Vista Equity Partners' involvement indicates relevance to the Private Equity industry, as it supports growth and acquisition strategies.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Citrix | Acquirer | Company | A business unit of Cloud Software Group Inc., specializing in application and desktop virtualization, networking, software as a service, and cloud computing technologies. |
| deviceTRUST GmbH | Target Company | Company | A company known for real-time contextual access technology, enhancing security in VDI and DaaS environments. |
| strong.network SA | Target Company | Company | Provides secure cloud development environments aimed at enhancing developer workflows and securing applications. |
| Vista Equity Partners | Private Equity Firm | Company | An investment firm that supports the acquisition strategy, focusing on software, data, and technology-enabled businesses. |
| Cloud Software Group Inc. | Parent Company | Company | The parent company that houses Citrix, providing a diversified software portfolio. |
| Sridhar Mullapudi | Executive Vice President and General Manager | Person | Key executive at Citrix, involved in the strategic expansion of its security capabilities. |