The global digital workplace and app delivery solutions provider company Citrix announced today that it has finally completed the acquisition of SaaS collaborative work management solutions provider company Wrike, for approximately US$2.25 billion in cash.
Through the acquisition, Citrix says it will be able to deliver the cloud-based work platform to allow all employees and teams to securely access, collaborate and execute project-based work, portfolio management and other collaborative work types effectively and efficiently — across any work channel, device, or location.
“Innovative companies understand that to power the modern, agile enterprise, they must transform the way their employees work,” said Andrew Filev, senior vice-president and Wrike general manager, Citrix. “In combining Wrike’s collaborative work management innovations with Citrix Workspace, we can deliver an experience-driven work platform that enables businesses to quickly adapt to changing work styles and business needs and their employees to do the best work of their lives.”
Citrix buys Wrike for $2.25 billion
Wrike’s collaborative work management capabilities are used by several companies including Walmart, Fitbit, Siemens Smart Infrastructure, and Chosen Foods among others.
The deal was initiated in January 2021 with Citrix describing the acquisition as highly complementary to Citrix’s existing customer base and is expected to accelerate Citrix’s SaaS ARR growth. The two companies had still been operating independently until now.