Goodwin Procter attorneys counseled software maker Citrix Systems, Inc. on its recently announced cooperation agreement with investment firm Elliott Management, whose affiliated funds own 7.5% of the company’s common stock. The agreement includes the appointment of Elliott’s Jesse Cohn to Citrix’s board of directors, as well as the beginning of a search for an additional independent board member, agreeable to both Citrix and Elliott, to replace a current board member. Additional information regarding the agreement is available in the Citrix press release.
Citrix, based in Fort Lauderdale, Fla., is leading the transition to software-defining the workplace, uniting virtualization, mobility management, networking and SaaS solutions to enable new ways for businesses and people to work better. Citrix solutions power business mobility through secure, mobile workspaces that provide people with instant access to apps, desktops, data and communications on any device, over any network and cloud. With annual revenue in 2014 of $3.14 billion, Citrix solutions are in use at more than 400,000 organizations and by over 100 million users globally. The company is traded on the Nasdaq exchange under ticker “CTXS.”