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ZIXI - Zix May Have Bitten Off More Than It Can Chew
Zix Corporation
Zix Corporation (ZIXI), a leader in email security, may have bitten off more than it can chew with its acquisition of AppRiver, a little more than a year ago. I noted in a previous article that, prior to the acquisition, Zix was struggling with its revenue growth of 7% and declining retention rate. The AppRiver acquisition breathed new life into Zix, and the acquisition seemed to make sense at the time.
The main issue with the acquisition was that AppRiver was larger than Zix and resulted in Zix stretching its finances. Fast forward to