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PHD Virtual Technologies Announces Citrix Investment
Date:5/20/2010

PHD Virtual Announces Joint Investment by Citrix and Insight Venture Partners

Philadelphia, PA (Vocus) May 20, 2010 -- PHD Virtual Technologies, pioneer and innovator in backup and recovery for virtual machines, announced today that it has signed an investment agreement with Citrix Systems, a leading provider of virtual computing solutions that help companies deliver IT as an on-demand service . In coordination with the arrangement, Insight Venture Partners made an additional funding investment. Terms of the agreement were not disclosed.

"PHD Virtual Technologies is a prime addition to the rapidly growing XenServer ecosystem with the recent expansion of its enterprise-class backup and recovery offerings to include Backup for Citrix XenServer,” said Andy Cohen, senior director of strategic development, Citrix. “The technology and team make PHD Virtual Technologies a strong partner and attractive investment opportunity. We look forward to working with them to meet the needs of joint customers and continue to grow our opportunities in the server virtualization market.”

“As our customers virtualize increasingly critical workloads, they want the flexibility of a heterogeneous hypervisor environment and scalable systems management tools. The business objectives of the Citrix XenServer Product Group and PHD Virtual are very much aligned,” said Thomas Charlton, Chairman and CEO of PHD Virtual Technologies. “We will use this financing event to accelerate our worldwide expansion and capitalize on the market opportunity that exists for our technology in XenServer and XenDesktop deployments.”

“We are happy to have Citrix join PHD Virtual as shareholders and strategic partners. XenServer and XenDesktop are both g
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Source: PRWeb
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