Business software maker Citrix Systems Inc said it acquired Danish online work platform Podio to expand its social media offerings for small and medium-sized companies, hoping to benefit from growing demand for social software with workplace applications.Under the buzz words "social collaboration," IT vendors are taking a cue from social media used by consumers outside of work to create similar tools for the workplace, making it easier for employees to share information or work together on projects or in groups.Research firm Forrester said the market for corporate social software will grow rapidly in coming years. It sees the market reaching $6.4 billion by 2016, compared with $600 million in 2010.Podio, founded in 2009 and based in Copenhagen, allows users to create specific applications for their work projects without having technical skills.
Citrix Systems, Inc. designs, develops and markets technology solutions that enable information technology (IT) services. Shares of CTXS traded higher by 1.51% or $1.11/share to $74.82. In the past year, the shares have traded as low as $50.21 and as high as $88.49. On average, 1869900 shares of CTXS exchange hands on a given day and today's volume is recorded at 486702.
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