Technology News

Copenhagen, Denmark, April 11, 2012

The founders of connected work platform company Podio and its sole institutional investor, Sunstone Technology Ventures, announced today that they have closed a transaction for the sale of Podio to Citrix Systems, Inc (NASDAQ:CTXS). Based in Copenhagen, Denmark, with an office in San Francisco, Podio provides a collaborative work platform that is revolutionizing the way employees and professionals work and interact.

Founded in Copenhagen in 2009, Podio raised funding from Sunstone Capital in December 2010. Leveraging the additional resources provided by the investment, Podio rapidly developed into a leading innovative and visionary provider of collaborative work platform services over the web and mobile. During this period Podio publicly launched its service and greatly expanded its global user-base.

“We are very proud of the achievements of Podio which has developed rapidly since we made our initial investment just 16 months ago. This agreement with Citrix proves that Podio is delivering a globally leading cloud service to business users across the web” says Christian Jepsen, Partner at Sunstone Technology Ventures. “We are pleased that this agreement once again demonstrates the potential of creating successful technology companies in Denmark” adds Nikolaj Nyholm, also Partner at Sunstone Technology Ventures.

“From the start, Podio has been focused on creating an experience that would be more than an online place to talk about work but a platform customers trust to get work done – 24/7. The extraordinary adoption we saw in just one year validates the pent up demand for better ways for teams to collaborate,” said Tommy Ahlers, co-founder and CEO of Podio. “With a shared vision and culture that is synergistic, Citrix can help us scale to meet demand at a speed that would not be possible otherwise.”

Tommy Ahlers and the entire Podio team will join Citrix.
For further information contact Christian Jepsen at Sunstone Technology Ventures.

Sunstone Capital will continue investments in promising start-up companies within software, web services, e-commerce, gaming and mobile during the next five years. The target is a EUR 100 million final closing during 2012. Among the investors participating in the first closing are the European Investment Fund, Dansk Vaekstkapital, Industriens Pension and Vaekstfonden.

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