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Citrix Joins VMware Rivalry

Stock quotes in this article: CTXS , VWM , MSFT  

SAN FRANCISCO -- Citrix Systems(CTXS Quote) declared itself a direct competitor to IPO hotshot VMware(VMW Quote) with its acquisition Wednesday of privately held virtualization developer XenSource.

The $500 million deal -- 60% stock and 40% cash -- gives Citrix a strong virtualization software maker that complements its own virtualization capability for application software.

Citrix is assuming $107 million in unvested XenSource stock options, "which we believe will help with employee retention," Citrix CFO David Henshall said in a conference call. ...

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