Salesforce To Buy Israel’s ClickSoftware

Salesforce To Buy Israel's ClickSoftware

U.S. cloud-based service provider Salesforce (CRM.N) has agreed to buy U.S.-Israeli software developer ClickSoftware for $1.35 billion in cash and shares, in a bid to accelerate growth of its cloud-based products to manage customer service operations.

According to a Reuters report, U.S. cloud-based service provider Salesforce (CRM.N) agreed to buy U.S.-Israeli software developer ClickSoftware for $1.35 billion in cash and shares, in a bid to accelerate growth of its cloud-based products to manage customer service operations.

“This is just the start of innovation on this,” Donsky told Reuters, referring to the field service management software sector.

This is the second major deal by Salesforce in Israel since July 2018 when it paid $850 million for Datorama, a cloud-based artificial intelligence marketing platform that makes up one of Salesforces’s two research and development facilities in Israel.

The ClickSoftware deal would bring the number of employees at Salesforce in Israel to above 600, Donsky said.

He said: “Salesforce will continue to invest in Israel.” “Israel is now a strategic R&D hub for the company so we are going to see more growth in the coming years.”

U.S. private equity firm Francisco Partners bought ClickSoftware in 2015 for $438 million.

Salesforce said its offer was net of the value of shares it already owns, after taking into consideration estimated purchase price adjustments.

The acquisition is expected to close during Salesforce’s fiscal quarter ending Oct. 31 pending various approvals.

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