by Adam Pease
Citrix Systems, a provider of digital workplace solutions has just recently announced its acquisition of Wrike for $2.25 billion, a collaboration software provider. Citrix's move follows the recent move by Adobe, which bought Workfront for $1.5 Billion.In this blog, we discuss the implications of this purchase and the surrounding market.
Wrike and the Digital Work Hub Market
Aragon Research has recognized Wrike as a leader in the digital work hub market in the past. Digital work hubs help unify the capabilities that drive core business processes. Digital work hubs provide enterprises with powerful capabilities when it comes to consolidating other pieces of legacy software into a single, central platform for optimizing the enterprise.
Wrike is known for its collaboration capabilities, which facilitate project and portfolio management. Its solution incorporates automation to streamline business processes. It aims to provide a single source of information to centralize enterprise workflows.
Citrix's play for collaboration signals consolidation in the digital work hub market.
Citrix Makes a Play for Collaboration in Work Hubs
Citrix offers a suite of solutions for workspace productivity that are geared towards what Aragon has called people-centric collaboration. Its offering is geared towards closing a gap between the workforce and its leadership by providing a unified workspace where business-critical data can be accessed by all necessary stakeholders. Citrix is a serious player in the digital work hub market, a sector that Aragon has projected will grow in the coming years.
The acquisition of Wrike is a play for expanded collaboration in the digital work hub market. With is purchase, Citrix doubles down on its commitment to collaboration tools that put people at the center of business communication. We expect that consolidation of this sort will be common in the digital work hub market in the years to come.
Bottom Line
The purchase of Wrike is a strategic move, and it positions Citrix to continue its success in the digital work hub market. Aragon sees more consolidation coming as people realize that a work hub does lead to getting more productive work done faster. How well Citrix will perform in this market remains to be seen, but this kind of consolidation is a positive sign.