Citrix to Acquire Wrike for $2.25B, Boosting Team Collaboration
Citrix Systems is set to acquire Wrike, a leading SaaS collaborative work management platform, in a deal worth $2.25 billion. The acquisition, expected to close in the first half of 2021, will combine Citrix's digital work platform with Wrike's team collaboration capabilities, serving over 400,000 customers across 140 countries.
Wrike, with approximately 18,000 customers globally, offers a platform that automates and streamlines team collaboration. Citrix, with its digital work platform for secure and reliable access, aims to boost employee effectiveness and productivity through this acquisition. Upon closing, Wrike's CEO, Andrew Filev, will continue to lead the Wrike team and report to Arlen Shenkman, Citrix's Executive Vice President and Chief Financial Officer. Filev will also serve as President of Citrix post-merger.
The acquisition is subject to regulatory approvals and other customary closing conditions. It is expected to expand Citrix's platform to include collaborative work management capabilities, further strengthening its position in the market.
The acquisition of Wrike by Citrix Systems is a significant move that will combine two powerful platforms, serving a vast customer base worldwide. With the deal expected to close in the first half of 2021, the integration of Wrike's team collaboration capabilities into Citrix's digital work platform promises to enhance employee productivity and effectiveness.
