UI Research Park tenant agrees to sale
CHAMPAIGN — Bytemobile, which has an office in the University of Illinois Research Park, has agreed to be acquired by Citrix Systems.
Terms of the transaction, announced Thursday, were not disclosed. But Citrix, which trades publicly on the Nasdaq exchange, said it expects to release more details when it reports second-quarter results later this summer.
With the acquisition, Citrix would become the 14th publicly traded company to have an operation in the research park.
Bytemobile, at 2100 S. Oak St., C, helps mobile networks operate faster and more efficiently. UI Professor Constantine Polychronopoulos helped develop the technology that led to the formation of the company in 2000.
Based in Santa Clara, Calif., Bytemobile opened a research-and-development office in the UI Research Park in 2006.
In February, Citrix and Bytemobile jointly announced plans to work together to develop scalable systems for mobile network operators.
On Thursday, the companies said they would build on that through the acquisition, with Bytemobile continuing as an "independent product group within the Citrix cloud networking group."
Bytemobile has about 300 employees, including product, sales and services teams around the world.
Citrix, which had annual revenue of $2.21 billion in 2011, is based in Fort Lauderdale, Fla. As of Dec. 31, 2011, Citrix had 6,936 employees, according to its annual report.
The company makes collaboration, virtualization and networking products that help people get work done over mobile networks.
Citrix said its acquisition of Bytemobile will give Citrix "a key strategic foothold in the core infrastructure of more than 130 mobile operators in 60 countries."
The two companies said they expect the transaction to close during the third quarter of this year.
Klaux Oestermann, Citrix's group vice president and general manager of cloud networking, said Bytemobile's integration will benefit mobile network operators and their subscribers by making faster, more efficient, more reliable, more manageable networks.
He also said the combination would provide scalability to process growing volumes of data traffic at a lower cost.