Earlier this week, on July 26, we announced our results for Q2 and the upcoming merger of our GoTo business with LogMeIn. Both of these announcements are incredibly positive for Citrix and our shareholders.

Continued Momentum: Citrix Q2 Results

I am very encouraged by our performance this past quarter. We achieved revenue of $843 million, which represents year-over-year growth of 6 percent. This continued positive movement is a clear signal that our focus on execution of our strategy is resonating well with our customers, partners and the market.

This past quarter at our annual Synergy event, we debuted numerous product innovations and a stronger-than-ever partnership with Microsoft. Across the board, we have received resoundingly positive feedback from all constituencies. Our innovation and partnerships are clearly fueling the continued strength in our execution and position us as #1 or #2 in all market segments where we play.

Progressing in our transformation to Citrix Cloud, we saw ShareFile grow 30 percent year over year in new sales in Q2. And, our Citrix Service Provider business continues to grow at a rapid pace—37 percent year over year. We now clearly see the Cloud as a strong growth catalyst—a really positive sign as we continue to focus on the evolving Citrix Cloud strategy. In the coming months, we hope to share more insight into our exciting Cloud future and the roadmap.

Overall, this was a terrific quarter for our worldwide sales team—particularly our Americas team, which continues to fire on all cylinders. This was an incredible quarter, adding new customers to the Citrix family and solidifying our existing customer relationships. The number of large deals over $1M—61 in total—marked an increase of 33 percent, year over year. We saw strength in our targeted industry verticals—particularly financial services and healthcare—with nearly a third of our largest wins represented by healthcare organizations. We saw a significant number of customers moving from other networking and virtualization vendors to Citrix. In fact, we had nearly 800 combined competitive wins or replacements against these competitors.

A New Chapter for Citrix, GoTo and LogMeIn

Last November, when Citrix first announced plans to spin off our GoTo family of products, value creation for our shareholders was a key driver of our decision. As we said then, we believed that the spin-off would allow Citrix and the company established by the spin-off to enhance their respective competitive positions.

While we continue to believe that the GoTo business would thrive as an independent company, when presented with this opportunity, it became clear that a combination with LogMeIn was the best outcome for both the GoTo business and our shareholders. For Citrix, this transaction will allow us to further enhance our strategic focus and accelerate execution of our strategy to provide the world’s best integrated technology services for secure delivery of apps and data.

Aside from enhanced scale and a more diverse product portfolio, the synergy opportunities are very compelling. We have done considerable work on the transaction and believe the combined business will generate run rate cost synergies of more than $100 million within two years post-close. We have great confidence that the LogMeIn management team, overseen by the Operating Committee that is being formed by the newly constituted Board, will fully realize these benefits.

We believe that the combination with LogMeIn will create a stronger company positioned to drive even greater value for shareholders of both Citrix and LogMeIn.

This week’s announcements will allow Citrix to continue the momentum we’re seeing from greater focus. Our restructuring efforts and continued progress on creating a ‘new Citrix’ are producing strong results—results that are a testament to our renewed vision. I am more enthusiastic than ever, and I feel confident that we have the right strategy, the right plan and the focus to execute upon it.

Additional Information about the Proposed Transaction and Where to Find It
In connection with the proposed transaction, LogMeIn, Inc. and GetGo, Inc. will file registration statements with the SEC registering shares of LogMeIn common stock and GetGo common stock in connection with the proposed transaction.  LogMeIn will also file a proxy statement.  Citrix stockholders are urged to read the prospectus and/or information statement that will be included in the registration statements and any other relevant documents when they become available, and LogMeIn stockholders are urged to read the proxy statement and any other relevant documents when they become available, because they will contain important information about LogMeIn, GetGo and the proposed transaction. The proxy statement, prospectus and/or information statement and other documents relating to the proposed transaction (when they become available) can also be obtained free of charge from the SEC’s website at www.sec.gov.  The proxy statement, prospectus and/or information statement and other documents (when they are available) can also be obtained free of charge from Citrix upon written request to, Investor Relations, 851 Cypress Creek Road, Fort Lauderdale, FL 33309 or by calling (954) 229-5758 or upon written request to LogMeIn, Investor Relations, 320 Summer Street, Boston, MA 02210 or by calling (781) 897-0694.
Certain Information Regarding Participants
This communication is not a solicitation of a proxy from any security holder of LogMeIn.  However, Citrix, LogMeIn and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from stockholders of LogMeIn in connection with the proposed transaction under the rules of the SEC.  Information about the directors and executive officers of Citrix may be found in its Annual Report on Form 10-K filed with the SEC on February 18, 2016 and its definitive proxy statement relating to its 2016 Annual Meeting of Shareholders filed with the SEC on April 29, 2016.  Information about the directors and executive officers of LogMeIn may be found in its Annual Report on Form 10-K filed with the SEC on February 19, 2016, and its definitive proxy statement relating to its 2016 Annual Meeting of Stockholders filed with the SEC on April 8, 2016.
This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.  No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. 

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