Salesforce.com Inc. (NYSE: CRM) will buy ClickSoftware, the cloud-based field service management & workforce management software, in a deal worth approximately $1.35 billion in cash and stock. The acquisition is expected to close by October 31 of this year, subject to antitrust clearance in the United States and Israel.
Salesforce says the acquisition will enhance its Service Cloud customer relationship management (CRM) platform for customer service and support. In its press release, Salesforce said that the acquisition “will create strategic synergies, technological unity and new innovation opportunities for Salesforce.”
Israeli company ClickSoftware was founded in 1997 and is currently the largest company offering a complete mobile workforce management solution. It has been owned by American private equity firm Francisco Partners since 2015.
The company boasts more than 15,400 customers in a wide variety of industries around the world. Bosch, Deutsche Telekom, Vodafone, Ericsson, and Unisys are some of its clients. ClickSoftware has 829 employees listed on LinkedIn.
ClickSoftware will be the sixth Israeli company acquired by Salesforce since it first entered the Israeli market in 2011 and its largest purchase of an Israeli company to date. The acquisition of the company will increase Salesforce’s existing Israel workforce to more than 600 employees.
Salesforce previously acquired AI-powered marketing intelligence platform Datorama for roughly $850 million in July 2018 and Bonobo, a conversational intelligence platform for between $40 million and $50 million in May 2019. Salesforce also has announced investments in 12 local companies to date.
The deal comes just two months after Salesforce announced its $15.7 billion acquisition of data visualization software company Tableau. The company has also launched Salesforce Ventures, the company’s $125 million venture fund to back enterprise cloud start-ups in Europe, the Middle East and Africa.