Remote work tech commands big bucks: Vista sells Wrike to Citrix

The Wire

Jan. 19, 2021

Vista unloads SaaS work management business Wrike, Webster's Bristol Hospice readies for sale, LightBay snags another healthcare business

Morning, hubsters!

Work-from-home: In today's headline private equity exit, Vista Equity Partners is selling work management software business Wrike to Citrix Systems for $2.25 billion in cash, the buyer said in a Tuesday announcement.

"We believe that in the future, success will go to those companies that can support flexible and hybrid work models and provide a consistent, secure and efficient experience that removes the complexity and noise from work so employees can focus and perform at their best, wherever they happen to be,” Citrix CEO David Henshall said in the announcement.

Elsewhere... as the virtual J.P. Morgan Healthcare Conference continues throughout the month of January, I've learned that Webster Equity Partners is poised to soon bring Bristol Hospice to market. Meanwhile, LightBay Capital – founded by two former partners of Ares Management private equity - has clinched a growth investment in Rancho Family Medical Group on the heels of its acquisition of Femwell Group Health.

Read the full wire commentary on PE Hub.

That's it for today's rundown. Have a great week, and as always, write to me with any tips, comments or just to say hello!

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