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Citrix completes $1.8B deal with Massachusetts company

Citrix completes $1.8B deal with Massachusetts company

Citrix completed Wednesday a major transaction with Massachusetts software company LogMeIn, finalizing the spin-off of a signature software service created by the Fort Lauderdale company.

The plan to divert GoTo, a line of remote-access software, was floated by Citrix (Nasdaq: CTXS) more than one year ago. U.S. Securities and Exchange Commission filings indicated doing so would be costly.

The merger of the Citrix GoTo line of remote-access software products was officially announced in July 2016 — a $1.8 billion transaction that occurred amid other restructuring efforts within the company. Now finalized, the deal will shift LogMeIn (Nasdaq: LOGM) common stock to Citrix shareholders for each share of Citrix common stock owned as of Jan. 20.

LogMeIn was founded in 2003 and is based in Boston. Like Citrix, it is a provider of software as a service — often referred to as SaaS — and cloud-based remote connectivity services for collaboration, IT management and customer engagement.

Citrix today appears to be on solid footing, riding the wave of positive annual earnings that show year-over-year growth following. The report, released Thursday, included restructuring costs of about $71 million but showed strong financials overall; Citrix increased earnings by 68 percent — from $3.28 billion in fiscal year 2015 to $3.42 billion the following year.

“Overall, 2016 was a great year. We made significant strides in advancing our vision, strategy and culture, while at the same time rapidly expanding profitability and growth in our core business,” said Citrix CEO Kirill Tatarinov.

Cyber security news: Russian hacking takes aim at Europe

Cyber security news: Russian hacking takes aim at Europe

Russian hacks ‘aim to destabilise the West’ The UK’s defence secretary, Michael Fallon, has accused the Russian government of “weaponising misinformation” in an effort to destabilise the West.

Speaking at the University of St Andrews, Fallon laid the blame for the “post-truth age” squarely at the Kremlin’s door, saying it was a direct result the regime’s cyber FUD efforts.

He also alluded to recent attacks on Bulgaria, Ukraine and the Democratic Party’s servers, citing “the use of cyber weaponry to disrupt critical infrastructure and disable democratic machinery”.

“Russia is clearly testing Nato and the West. It is seeking to expand its sphere of influence, destabilise countries and weaken the alliance,” said Fallon.

“Nato must defend itself as effectively in the cyber sphere as it does in the air, on land and at sea, so our adversaries know there is a price to pay if they use cyber weapons,” he added, saying “it is in our interest and Europe’s to keep Nato strong and to deter and dissuade Russia from this course.”

Fallon also reiterated US president Donald Trump’s calls for all Nato members to honour the commitment to spend 2% of GDP on defence.

What is cyber security?

Cyber security refers to any efforts to protect technology from hacking, malware and other forms of cyber attack. This can include anti-malware, firewalls, analytics, security updates and patching, and DDos prevention, as well as more basic countermeasures like using strong passwords and changing default credentials.

Cyber security in large businesses will likely be looked after by a dedicated person, such as a CISO, who may have an entire security team at their disposal. For medium-sized business, it will more normally be up to the CIO or CTO to look after cyber security.

However, it’s an important issue for businesses of all sizes – including small and micro businesses – which must all take reasonable measures to protect their own business operations and data, as well as those of customers and partners

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