Big Law

Citrix Set to Purchase Slack Competitor Wrike in a Record-Breaking Acquisition of $2B

Citrix Systems has announced that it has entered into a definitive agreement to acquire Slack competitor Wrike for $2.25 billion (£1.65 billion) in its largest acquisition to date.

The transaction, which is expected to be funded with a combination of new debt and existing cash and investments, is a quarter of a billion higher than was first rumored. 

Citrix confirmed the news today, announcing the merger along with its reported earnings for the fourth quarter.

Citrix president and CEO David Henshall announced that “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.”

Read the source article at itpro.co.uk

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