Citrix Systems, an American multinational software company that provides server, application, and desktop virtualization, networking, software as a service (SaaS), and cloud computing technologies, announced that it has entered into a definitive agreement to acquire Wrike, a SaaS collaborative work management space, for $2.25 billion in cash.
Powerful digital work platform
The company announced that the acquisition will provide a powerful digital work platform, which is able to securely deliver the resources an employee needs to be productive in one unified experience, and Wrike’s work management solution, which streamlines collaboration and work execution, that provides employees with additional tools to work efficiently and securely wherever they may be. Wrike’s cloud-delivered capabilities will accelerate Citrix’s business model transition to the cloud and strategy.
The combination of the two companies will offer an enhanced value proposition through complementary solutions, unlocking new revenue opportunities both within existing installed customer bases and new lines of business buying centers. The duo will serve over 400,000 customers across 140 countries. David Henshall, President and CEO, Citrix, said,
“Work today is happening everywhere, at home, in the office, and on the road. We believe that in the future, success will go to those companies that can support flexible and hybrid work models and provide a consistent, secure, and efficient experience that removes the complexity and noise from work so employees can focus and perform at their best, wherever they happen to be. 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.”