Somehow it seems to me that Vista has been holding onto its companies for more than three years. I don’t know if they ever flipped a company in less time, but now they've sold Wrike to us for three times more money than they paid for it. I doubt it's a good deal and I’m really interested in how the acquisition will turn out after it is completed. Any thoughts?
10 replies (most recent on top)
Xenmobile did a good job, coming from zenprise.
Seeing the many IPOs in the last 9 months and the big valuations , says it is not the right time to buy businesses. For Wrike, to go acquisition shows that they were offered much higher (2.25 billion) than if they had gone IPO. Which makes it even worse, as your comment.
Wrike was not publicly traded but I have to still agree that it is as smart a move as your comment, no offense mate. Podio was already there, and the whole Workspace vision is now becoming a joke. The execs probably are in a pressure to show revenue to the board
I see layoffs on the wall for Wrike as well as some of us.
No one in their right mind buys another publicly traded business when the stock market is so FROTHY.
I like this .. " if not this is (most likely) $2B down the drain like many previous acquisitions."...
I am 99% sure that is exactly what it is. For what reason though I don't know. I can only assume the scout that found out about Wrike has some shared interest in Wrike. And went off and talked the talked to the Exces.
Current leadership never seriously invested in Podio and it has been on a maintenance mode, and so what’s the point in buying a similar and expensive product.
Seems it was only about customers and not technology, but there were other enterprise products who could have added better synergy, cheaper and would have been more sticky. Total brain fade...
Don't forget the Cedexis network monitoring company acquisition in February of 2018 which was quietly swept under the rug by late 2019 after Citrix rebranded it Intelligent Traffic Management.
It will definitely bring layoff in areas that are duplicated between the two companies
Fresh layoffs coming to a shirtless home offices everywhere.
The best acquisition must have been NetScaler.. which is still alive and kicking.
But not sure if that extends the 10y span or not.
There was anyway too much competition for Wrike. Asana, Monday, MSFT Planner, Smartsheet, Trello, Avaza and even Citrix’s own Podio compete in the same space, among 100s of other such smaller products. They were doomed alone anyway
My take is also that Citrix Workspace is also not going anywhere. No major interest by most enterprises. It’s a poor assembly of receiver, sharefile, Sapho and bunch of other poorly written services. It would be interesting to see if Citrix can come up with some compelling use case with Wrike integration, if not this is (most likely) $2B down the drain like many previous acquisitions.
Speaking of acquisition, anyone here who can list one successful acquisition by Citrix in last 10 years. No bullxxxx non sense, asking for any moderately successful acquisition. GoTo could have been one now but some di**heads decided to sell them for much less than Wrike all cash purchase. What a bunch of nincompoops