Wrike Empowers Organizations with Ownership and Leadership Transition

Wrike, a leading provider of collaborative work management solutions, has announced an ownership and leadership transition as it completes its recapitalization and transfers ownership to Symphony Technology Group (STG), a private equity firm specializing in software, data, and analytics. This transition marks an important milestone for Wrike as it solidifies its position as a private company and sets the stage for future growth and innovation.

Under the terms of the deal, Vista Equity Partners and Elliott Investment Management L.P. will transfer full ownership of Wrike to STG. This strategic partnership will enable Wrike to continue building on its intelligent work management platform, which automates work and empowers teams to be more productive, efficient, and outcomes-driven. Wrike aims to capitalize on the increasing need for efficiency and productivity in organizations that face complex workstreams and limited resources.

As part of the transition, Wrike Founder and Chief Executive Officer, Andrew Filev, will transition into the role of Board Advisor. Thomas Scott, Wrike's current Chief Financial Officer, will step into the position of Interim Chief Executive Officer, taking the helm in driving the company's next phase of growth. Scott brings over 20 years of executive experience to the role, with a proven track record of leading teams through transformative stages of growth.

The demand for a unified work management platform that meets the needs of individuals and organizations has never been greater. Wrike and STG share a vision for advancing market leadership in work management software, a category poised for significant growth. Wrike has been at the forefront of shaping the collaborative work management category, consistently evolving its platform to address the evolving needs of its 2.4 million users. With a focus on innovation, Wrike has incorporated artificial intelligence (AI), custom workflows, and workflow automation to deliver greater efficiencies and enhanced work management capabilities.

The completion of the ownership and leadership transition offers exciting opportunities for Wrike to further expand its capabilities and help customers streamline project management, foster collaboration, and boost productivity. The partnership with STG brings valuable experience, resources, and a customer-centric approach to drive strategic value and unlock the potential of innovative companies.

Wrike has an impressive customer base of over 20,000 organizations, including renowned brands such as Estée Lauder, Hootsuite, Nielsen, Ogilvy, Siemens, and Tiffany & Co. These customers have leveraged Wrike's intuitive, versatile, and scalable platform to remove complexity, increase productivity, and focus on their most purposeful work. With the ongoing support of STG, Wrike is well-positioned to continue empowering organizations to grow, optimize, and thrive in today's competitive landscape.

As Wrike embarks on this new chapter, Lazard acted as its exclusive financial advisor, and Kirkland & Ellis LLP served as legal counsel. Paul Hastings LLP provided legal advisory services to STG for the transaction.

In conclusion, Wrike's ownership and leadership transition mark an exciting phase for the company as it continues to innovate and empower organizations with its collaborative work management platform. With the support of STG, Wrike is poised for continued growth and success in helping customers overcome the challenges of managing complex workstreams in an increasingly dynamic business environment.