Citrix buys Wrike, and flawless integration is more important than ever
- It’s another big milestone signaling confidence in a permanent move to tech-enabled remote and flexible work
- But in a world where users are more reliant on UX and security than ever, the merger of IT must be flawlessly executed
Another big buy-out in the booming collaboration tool market came yesterday with the acquisition of Wrike by Citrix for US$2.25 billion in cash.
Citrix said buying the collaboration software firm will bolster its own digital work platform Workspace, and accelerate its move to a cloud-based subscription model.
The company is one of the many tech vendors experiencing a surge in uptake amid the move to remote working, which around four in five business executives expect to keep in one form or another even after it’s safe to return to the office.
Citrix expects that the combination with Wrike will unlock “new revenue opportunities” both within existing installed customer bases and new lines of business in marketing, professional services, and HR.
Combined, the companies will serve 400,000 customers across 140 countries.
News of the acquisition follows the purchase of Wrike competitor Slack by Salesforce for US$28 billion, in a bid to deliver the cloud CRM leader’s enterprise clients a streamlined, intuitive communications platform, bolstered by Salesforce’s own advanced technology.
Salesforce CEO Marc Benioff said the merger was “a match made in heaven”.
“Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world.”
Mergers & acquisitions
The tidal shift to remote work is a broad trend with an impact across industries – mergers and acquisitions will continue to follow as tech businesses seek to adapt, scale and establish themselves as leaders in a changing marketplace.
But while coughing up the funds is one thing, especially in a time of such economic instability, ensuring mergers of IT infrastructure go without hitch is incredibly important – customers now depend on – and take for granted – seamless and data-secure user experiences every day.
“For Citrix and Wrike it is critical to get the process right or face user disappointment and potential compliance issues down the line,” said Mike Kiersey, principal technologist at Boomi.
“As a key player in the technology market, Citrix will understand the importance of getting M&A preparation and the process itself right.”
“In order to successfully carry out a merger of this size, the company will need to overcome a number of hurdles. A top priority will be seamlessly integrating vast IT ecosystems, responsible for storing and managing swathes of sensitive data.
“In today’s era, executing this integration efficiently can be the difference between success and failure.”
29 February 2024
29 February 2024