Citrix acquires project management platform Wrike for $2.25 billion

guest · Jan 19, 2021

Citrix acquires project management platform Wrike for $2.25 billion
January 19, 2021
https://venturebeat.com/2021/01/19/...t-management-platform-wrike-for-2-25-billion/

Citrix has confirmed reports from earlier this week that it is buying enterprise-focused work management platform Wrike in an all-cash deal worth $2.25 billion.

Founded in 2006, San Jose-based Wrike is a project management platform sold to businesses through a software-as-a-service (SaaS) model, allowing teams to monitor and track projects, workflows, deadlines, and more. The company claims some notable customers, including Google, Dell, Snowflake, Okta, and Airbnb, and had raised around $26 million in external funding, but it was acquired by Vista Equity Partners in 2018 for a reported $800 million.
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Citrix will now be able to offer cloud-based collaborative work management tools to its thousands of customers, which include Deloitte, Hewlett Packard, and SAP.
This is pertinent at a time when remote work has become the norm for millions of people.
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Citrix to Acquire Wrike, Delivering Modern Digital Workspace and Advancing Future of Work

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Citrix Systems, Inc. (NASDAQ:CTXS), today announced that it has entered into a definitive agreement to acquire Wrike, a rapidly growing, recognized leader in the SaaS collaborative work management space, for $2.25 billion in cash. Citrix today also reported earnings for the fourth quarter and fiscal year ended December 31, 2020 and has posted additional materials, including an earnings letter and investor presentation, on its Investor Relations website at http://www.citrix.com/investors.
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Citrix acquires project management platform Wrike for $2.25 billion

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