STG completes buyout of work management platform Wrike

• In conjunction with the transaction, Wrike founder and CEO 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 CEO
• Lazard acted as financial advisor to Wrike

Symphony Technology Group has completed its acquisition of California-based Wrike, a work management platform. The sellers are Vista Equity Partners and Elliott Investment Management. No financial terms were disclosed.

In conjunction with the transaction, Wrike founder and CEO 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 CEO.

“We thank Andrew for his unwavering service and dedication to Wrike over his long and distinguished career, including building the company from the ground up and navigating the company through multiple key transitions,” said Sunit Mukherjee, STG managing director, in a statement. “Thomas has the deep respect of Wrike’s senior leadership team and has already played a critical role in building the operational infrastructure for growth at Wrike, setting the stage for a seamless transition of leadership. We are excited to partner with Thomas and believe he is uniquely positioned to lead the company through its pivotal transition period.”

Lazard acted as financial advisor to Wrike, and Kirkland & Ellis LLP served as legal counsel for Wrike. Paul Hastings LLP served as legal advisor to STG on the transaction.

Wrike is a work management platform. Clients include Estée Lauder, Hootsuite, Nielsen, Ogilvy, Siemens, and Tiffany & Co.

STG invests in data, software, and analytics.