Citrix Acquires Wrike for $2.25B to Boost Productivity
Citrix Systems is set to acquire Wrike, a SaaS collaborative work management platform, for $2.25 billion in cash. The deal, expected to close in the first half of 2021, aims to boost employee productivity and streamline team collaboration across multiple channels, devices, and locations.
Upon closing, Wrike's CEO, Andrew Filev, will continue to lead the Wrike team, reporting to Arlen Shenkman, Citrix's Executive Vice President and Chief Financial Officer. The acquisition will expand Citrix's digital work platform to include collaborative work management capabilities, serving over 400,000 customers across 140 countries.
Wrike, with approximately 18,000 customers globally and over 1,000 employees, has seen significant growth under the leadership of its current CEO, Thomas Scott.
Subject to regulatory approvals and customary closing conditions, the transaction is expected to close in the first half of 2021. Upon closing, the combined company will offer enhanced collaborative work management solutions, serving a broader customer base worldwide.
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