Web conferencing is a growing sector of the communications industry as companies throughout the world are seeking to leverage their global presence without exorbitant spending on international travel. To strengthen its reach in this space and capitalize on growing opportunities, Citrix Systems is set to take ownership of Netviewer AG.

A Software as a Service (SaaS) provider based in Florida, Citrix Systems announced last week that it has agreed to acquire Netviewer AG, a privately-held European counterpart. The financial terms of the transaction have not been disclosed.

A Germany-based company, Netviewer AG provides online Web conferencing services for users in Europe. The firm currently supports as many as 18,000 customers, including a number of businesses of varying sizes.

Once this transaction is complete, Netviewer’s Web conferencing portfolio should accelerate the European growth in this space for Citrix Online, the online services division of Citrix Systems. Through Citrix Online, the company offers online Web conferencing tools and remote computer access services.

Brett Caine, Senior Vice President of Online Services Division for Citrix Systems noted that the key growth priority for the company has been on SaaS- based collaboration and IT services. Citrix Systems officials believe that there is even greater opportunity in the future as the global market matures and customers are searching for a strong, experienced partner in this space.

The deal is expected to close in early 2011, once the transaction has met certain conditions. Once complete, Netviewer will be fully integrated into Citrix Online. Citrix Systems will also gain talent in the transaction as Netviewer’s Chief Financial Officer, Robert Gratzl, will step in as Vice President and General Manager for Citrix Online in Europe, Middle East and Africa.