M&A Deal Summary

Citrix Acquires Wrike

On January 19, 2021, Citrix acquired internet software and services company Wrike from Vista Equity Partners for 2.3B USD

Acquisition Highlights
  • This is Citrix’s 12th transaction in the Internet Software and Services sector.
  • This is Citrix’s largest (disclosed) transaction.
  • This is Citrix’s 33rd transaction in the United States.
  • This is Citrix’s 19th transaction in California.
Investment Fate
  • Wrike was divested to a consortium of buyers in 2023.

M&A Deal Summary
Date 2021-01-19
Target Wrike
Sector Internet Software and Services
Buyer(s) Citrix
Sellers(s) Vista Equity Partners
Deal Type Add-on Acquisition
Deal Value 2.3B USD
Advisor(s) Goldman Sachs (Financial)
Kirkland & Ellis (Legal)

Target

Wrike

San Jose, California, United States
Wrike provides a cloud-based collaborative work management platform that allows users to work within a single digital workspace. The Company’s platform integrates with numerous enterprise applications and enables teams, departments and whole organizations to plan, manage and collaborate on projects and tasks in real-time, resulting in more efficient processes and executive visibility. Wrike is based in San Jose, California.

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Buyer(S) 1

Buyer

Citrix

Fort Lauderdale, Florida, United States
Category Company
Founded 1989
Sector Software
Revenue 3.2B USD (2020)
DESCRIPTION
Citrix System's corporate headquarters in Fort Lauderdale, Florida.
Citrix System's corporate headquarters in Fort Lauderdale, Florida.

Citrix develops and sells products and services that enable the secure and reliable delivery of applications and data over public, private, or hybrid clouds or networks, to virtually any type of device. The Company markets and licenses its products directly to customers, over the Web, and through systems integrators, or SIs, in addition, to indirectly through value-added resellers, or VARs, value-added distributors, or VADs, original equipment manufacturers, or OEMs and service providers. Citrix was established in 1989 and is based in Ft. Lauderdale, Florida.

DEAL STATS #
Overall 40 of 41
Sector (Internet Software and Services) 12 of 12
Type (Add-on Acquisition) 38 of 39
State (California) 19 of 19
Country (United States) 33 of 33
Year (2021) 1 of 1
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-15 Sapho

San Bruno, California, United States

Sapho is a micro app platform. Sapho’s micro applications improve employee productivity by consolidating access to tools, activities and tasks in a simple and unified work feed.

Buy $200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-07 Wrike

San Jose, California, United States

Wrike provides a cloud-based collaborative work management platform that allows users to work within a single digital workspace. The Company’s platform integrates with numerous enterprise applications and enables teams, departments and whole organizations to plan, manage and collaborate on projects and tasks in real-time, resulting in more efficient processes and executive visibility. Wrike is based in San Jose, California.

Sell -

Seller(S) 1

SELLER

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.

DEAL STATS #
Overall 47 of 70
Sector (Internet Software and Services) 11 of 20
Type (Add-on Acquisition) 21 of 35
State (California) 4 of 7
Country (United States) 43 of 65
Year (2021) 1 of 15
Size (of disclosed) 5 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 FlashParking

Austin, Texas, United States

FlashParking is the cloud-native parking technology platform and provides industry-leading digital and physical infrastructure. This platform creates seamless customer experiences and increases ROI while also connecting thousands of operators and asset owners with a real-time marketplace for digital mobility. FlashParking was founded in 2011 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-25 7Park Data

New York, New York, United States

7Park Data is a provider of data analytics software. 7Park Data transforms data to revolutionize business decisions. Leveraging machine learning, entity extraction, and linking, and predictive models, we transform unstructured information into contextualized Leading Performance Indicators for thousands of public and private companies. 7Park Data, Inc. was founded in 2012 and is based in New York, New York.

Sell -
Mergr

Product

Company

Legal