Citrix Systems Inc. (CTXS) is reportedly in talks to buy Slack’s rival, Wrike Inc., for over $2b. Taking home the big prize is Vista, the California-based company, which bought a majority stake in Wrike for about $800m back in 2018.
Citrix is in the business of selling work-from-home and cloud services, so it makes sense they would want to expand into the work-management software sphere.
While sources told Bloomberg the talks are in advanced stages, it is worth pointing out that the deal can still be called off. Citrix stocks closed about 2.8% higher following the news.