Citrix to acquire work management platform Wrike for $2.25 bn

1/19/2021

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Citrix Systems on Tuesday said it will acquire software-as-a-service (SaaS) collaborative work management platform Wrike for $2.25 billion in cash.

Citrix provides a digital work platform from which companies can deliver unified, secure and reliable access to the systems, information and tools people need to get work done wherever they may be working.

With the addition of Wrike's offerings, Citrix will expand its platform to include new, collaborative work management capabilities that enable companies to simplify work execution and boost employee effectiveness and productivity by automating and streamlining team collaboration as well as unifying workflows across all employees and work styles.

"Work today is happening everywhere -- at home, in the office and on the road," David Henshall, President and CEO, Citrix, said in a statement.

"Together, Citrix and Wrike will deliver the solutions needed to power a cloud-delivered digital workspace experience that enables teams to securely access the resources and tools they need to collaborate and get work done in the most efficient and effective way possible across any channel, device or location."

Headquartered in San Jose, California, and employing more than 1,000 employees, Wrike, a Vista Equity Partners portfolio company, provides approximately 18,000 customers globally with solutions that empower teams and distributed workers to plan, manage and efficiently complete work at scale.

Together, Citrix and Wrike will serve over 400,000 customers across 140 countries.

The transaction, which has been unanimously approved by the board of directors of both Citrix and Wrike, is expected to close in the first half of 2021, subject to regulatory approvals and other customary closing conditions. Until close, the companies will continue to operate independently.

Upon closing, Filev will continue to lead the Wrike team and report to Arlen Shenkman, Executive Vice President and Chief Financial Officer, Citrix.

Source: IANS

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