Along with the better-than-expected fourth-quarter results it delivered this week, Citrix (NASDAQ:CTXS) announced that it had entered into a definitive agreement to purchase software-as-a-service (SaaS) work management specialist Wrike for $2.25 billion in cash. Despite management’s optimism, however, this large acquisition doesn’t get me excited.
Shift to the cloud
Citrix’s core business consists of providing its clients’ employees with secure, consistent, and simple ways to access their applications and data from anywhere, using any device.
As enterprises have been shifting some of their infrastructure and applications to the cloud over the last several years, Citrix developed cloud capabilities to complement its legacy on-premises solutions. And following the trend in the software industry, it…