Citrix acquires work management platform for $2bn

Purchase of Wrike expected to speed up vendor's cloud and SaaS ambitions

Citrix has snapped up work management platform Wrike for $2.2bn in cash.

California-based Wrike specialises in streamlined collaboration and provides employees with tools to work securely and efficiently.

The vendor employs around 1,000 staff and has a customer base of around 18,000. It ended its calendar 2020 with over $140m in SaaS ARR and is expected to reach 30 per cent growth in 2021.

Its addition to the Citrix portfolio is expected to accelerate Citrix's business model transition to the cloud and its strategy to become a complete SaaS-based work platform.

Citrix also reported $810m revenue for its Q4 while full-year turnover hit $3.24bn.

"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," said David Henshall, CEO of Citrix.

"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."

Wrike will also gain access to Citrix's partner ecosystem upon completion of the deal, which is expected to close in the first half of this year.

Andrew Filev, founder and CEO of Wrike, added: "When it comes to the future of work, Citrix and Wrike share a common vision and mission: to reduce the complexity and chaos of work and empower every person, team, and organization to achieve their very best.

"Together, we will unlock the workspace of the future, truly transforming the work experience and equipping people with an innovative set of solutions they can use to exceed goals and keep business moving forward."