Citrix has entered into a definitive agreement to acquire Wrike, a SaaS collaborative work management space, for $2.25 billion in cash. The company said it will bring together its digital work platform with Wrike’s work management solution to securely deliver productivity and collaboration tools in one unified experience.
Headquartered in San Jose, California, and employing more than 1,000 employees, Wrike provides approximately 18,000 customers globally with solutions that empower teams and distributed workers to plan, manage and efficiently complete work at scale. Wrike is expected to have approximately 30 per cent stand-alone growth to between $180 million and $190 million in unaudited SaaS annualised recurring revenue in 2021, with the opportunity to accelerate growth over time under Citrix’s ownership.
David Henshall (pictured), president and CEO of 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.”
Upon closing, Wrike will gain access to Citrix’s ecosystem of partners, creating new opportunities within the ecosystem to drive additional value for customers. Citrix and Wrike will jointly serve over 400,000 customers across 140 countries.