Canadian application service provider FutureLink Distribution Corp said it will acquire Micro Visions Inc for $51m, based on June 2 closing prices. Irvine, California-based Micro Visions claims to be the top Citrix Systems Inc reseller and integrator of server-based computing systems in North America. The company has 80 employees and had 1998 revenues of $13.7m.
Under the terms of the deal, Micro Visions shareholders will receive $12m in cash and 6 million post-reverse split FutureLink common shares when the transaction closes. In addition, the shareholders could earn a further earn out of 2.4 million shares based on the achievement of specified performance targets. FutureLink says Citrix products provide part of the foundation for its computer utility service, which allows subscribers to access virtually any application, across any network connection via any client hardware.
