Israel based company Clicksoftware to be acquired by Salesforce for US$ 1.35 Bn
The cloud-based company from the United States has decided to acquire Israel based software development company. According to sources Salesforce has agreed to buy Clicksoftware. The deal will be of amount USD 1.35 billion. This acquisition will help Salesforce to speed up the development of its products to cope with the consumer service process. This acquisition came in picture after the purchase of Tableau data analytics. Purchase of data analytics Tableau was for more than USD 15 billion. Salesforce’s VP said that companies worked together for almost three years. After that, this deal took place according to Mr. Donsky.
Clicksoftware makes software for field service management. This software is cloud-based. It tracks and manages employees and technicians who are working outside of office locations. They have a solid customer base like Ericsson, Bosch, and Deutsche Telecom; who are using this software. Mr. Elad said that “It is just the beginning of this.” Now Israel has two research and development centers in Israel. In July 2018, Salesforce purchased Cloud artificial intelligence platform. The platform is known as Datorama. Salesforce has paid USD eight hundred and fifty million for this platform. Earlier in 2015, private equity company from the United States named Francisco Partners purchased clicksoftware for USD four hundred and thirty-eight million.
Vice President of Salesforce said that acquisition of Clicksoftware would add 600 people in Israel, that would help them to increase their business expansion. Salesforce has indicated that there will be continuous investment plan in Israel, as Israel has become research and developments strategic hub for Salesforce. That is why salesforce is expecting more and more growth in the years to come. Salesforce has mentioned that their offer was equal to the value of shares it previously has. This deal is expected to get closed very soon. According to sources, Salesforce is looking forward to closing this deal before their quarter-end, which is on 31st October. However, it is pending because of certain approvals.