Citrix’s Tuesday announcement that it would buy Wrike for $2.25 billion is meant to speed up the company’s move to SaaS. Citrix CEO David Henshall is counting on Wrike’s collaborative work management (CWM) technology to help the Citrix Workspace grow.
The COVID-19 epidemic from last year helped the cloud-based Citrix Workspace grow last year, which led to the purchase. Citrix says that the sudden rise in remote work has made more people want to sign up for its subscription-based cloud services. Citrix said on Tuesday that its subscription revenue for 2019 was more than $1.1 billion, which is a 71% increase from the previous year. Also, 2020’s sales of $574 million in SaaS were up 38% from the year before.
Citrix gave the information in its fourth quarter and annual financial report, which was released early to mark the company’s purchase of Wrike. Henshall said that remote or mixed work settings would still be around long after social distance was gone.
Henshall told investors on Tuesday’s call about the Wrike purchase, “It’s pretty clear that this idea of hybrid or remote work, or even dispersed teams, which has been so popular during the epidemic, is here to stay.” “I think that if our two companies work together, we can do that in a way that no one else can,” the author said.
Adding Wrike to the Citrix Cloud portfolio should make people more likely to use the digital workplace platform. Partners will also get a set of tools for working together in the office to connect and integrate them for clients. Shannon Kalvar, in charge of client virtualization research at IDC, thinks that Wrike could make the Citrix Workspace more flexible.
Kalvar says desktop virtualization-based workspaces are always centered on the task of the individual worker—what they do, how they do it, and what information they need. But in modern workplaces, collaborative work must be put first to keep up with changing needs. Wrike’s integration makes Citrix’s offering more complete in ways that would be very hard for them to do on their own since Wrike is a SaaS product with these features. There are, of course, problems, but the basic idea is good.
Wrike’s platform for managing group work
Wrike promotes its SaaS-based CWM as a cutting-edge project management and productivity platform that will increase productivity. The cloud-based platform lets teams organize, track, report on projects, and work together on different devices.
Making the work experience better
As digitization moves forward, more flexible and hybrid work arrangements are being used. But the many apps, communication tools, and gadgets that clutter complicated and remote work environments make it harder to do work that isn’t useful or efficient.
Mark Bowker, a senior analyst at Enterprise Strategy Group, says, There has never been a time when it was more important to give workers a safe and clean workplace. In today’s hybrid work environment, companies need to give their employees safe and reliable access to the resources they need to do their jobs and tools that help them work more effectively and efficiently across work channels, devices, and locations.
With Citrix and Wrike, they can make work easier
Citrix Workspaces is great because it can centralize, protect, and simplify processes for many jobs. Using Wrike, the best solution for managing collaborative work, Citrix can handle project-based work, portfolio management, and other types of collaborative work.
By putting Wrike and the Citrix Workspace together, Citrix will offer a fully digital work platform that changes how work is done.
They deliver all work resources securely, such as virtual desktops, content, SaaS applications, online applications, mobile applications, and business services. Projects, processes, content, and data are automatically grouped and connected.
Integration of low- or no-code workflow automation tools
Strong project and task management tools help the whole organization do a lot of different kinds of work, such as portfolio planning with strategy and goal planning, capacity planning, project execution, and project insight and analytics.
By combining Wrike’s collaborative work management technologies with Citrix Workspace, we can make an experience-driven work platform that lets companies quickly adapt to changing work styles and business needs and lets their employees do the best work of their lives.
Citrix’s (NASDAQ: CTXS) secure, unified digital workplace technology lets businesses get the most out of their employees and create a uniform workspace environment wherever work needs to be done. Citrix gives users a smooth place to work, while IT gets a single platform to protect, manage, and keep an eye on many different technologies in complicated cloud settings.
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Forward-looking statements are made in this press release in line with the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The statements in this release about the future don’t make any promises about how things will turn out. Statements about the benefits of the business merger, such as the expansion of Citrix’s platform, the solutions that the combined companies can offer, the ability to change the way people work, the potential customers that the combined companies can serve, the potential value creation that could come from the combined offerings, and expectations about the management of the combined company, are not strictly historical. Forward-looking statements like these are subject to several risks and unknowns that could cause the real results to be very different from what was expected in the statements.
These risks and uncertainties include, but are not limited to, how well customers receive Citrix and Wrike’s products and services, the possibility of Citrix and Wrike’s operations being interrupted, management being distracted, and other risks related to Citrix’s integration of Wrike’s business, team, and technology, Citrix’s ability to successfully integrate other businesses, and other things. Concerning the announcements mentioned in this news release, Citrix says it is under no obligation to update any information that looks ahead.
Any features or functions we list for our products can change without notice or consultation, and we decide when they will be developed and released and when they will be available.
The information is given only for informational purposes and is not a promise, guarantee, or legal obligation to provide any content, code, or functionality. Because of this, it shouldn’t be used in a contract or to decide what to buy.
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