FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Citrix Systems, Inc. (NASDAQ:CTXS) today announced that as part of its capital return program, Citrix entered into an accelerated share repurchase transaction with Goldman Sachs & Co. LLC on February 2, 2018 to repurchase an aggregate of $750 million of its common stock.

Under the terms of the ASR, Citrix has agreed to repurchase $750 million of its common stock from Goldman, in total. On February 5, 2018, Citrix will pay to the Dealer $750 million in exchange for the delivery of 6.5 million shares of Citrix common stock based on current market prices of Citrix common stock. The purchase price per share under the ASR is subject to adjustment and is expected to equal the volume-weighted average price of Citrix’s common stock during the term of the ASR, less a discount. The exact number of shares repurchased pursuant to the ASR will be determined based on such purchase price. The ASR transaction is expected to be completed by the end of April 2018.

The ASR was entered into pursuant to Citrix’s existing share repurchase program. Citrix has repurchased $750 million out of a total authorization of approximately $2 billion approved by its board of directors in November 2017. After taking into account the $750 million shares repurchased pursuant to this ASR, Citrix will have approximately $500 million of remaining share repurchase authorization available.

About Citrix

Citrix (NASDAQ:CTXS) aims to power a world where people, organizations and things are securely connected and accessible to make the extraordinary possible. We help customers reimagine the future of work by providing the most comprehensive secure digital workspace that unifies the apps, data and services people need to be productive, and simplifies IT’s ability to adopt and manage complex cloud environments. Citrix solutions are in use by more than 400,000 organizations including 99 percent of the Fortune 100 and 98 percent of the Fortune 500. Learn more at www.citrix.com.