Citrix Systems Reports Solid Quarter, New Acquisition

Shares of Citrix Systems (NASDAQ:CTXS) are edging higher in the premarket session on a double-shot of good news. The company reports not only solid results for the Q4 and 2020 period but it also guided the coming year higher and announced an acquisition that will accelerate that growth far beyond the expectations. Citrix Systems, if you are not aware, is a cloud-based subscription SaaS company with what will soon be an end-to-end platform for linking all internal business operations.

Citrix Systems announced a definitive agreement to buy Wrike along with the Q4 release. Wrike is a complimentary cloud-based SaaS platform that will help Citrix give a more complete offering to its clients. The deal is worth $2.5 billion in cash the company expects to raise via new debt and existing capital. Cost related to the deal will be dilutive to net earnings in the 2021 calendar period but will lead to enhanced top-line growth this year and…

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