- General
- August 8, 2019
- 4 minutes read
Salesforce Scoops Up ClickSoftware For $1.35 Billion
Salesforce co-CEO Marc Bernioff image: Fortune Photo on Flickr Salesforce has reached a deal to acquire ClickSoftware, a U.S.-Israeli software company,…
Salesforce co-CEO Marc Bernioff
image: Fortune Photo on Flickr
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Salesforce has reached a deal to acquire ClickSoftware, a U.S.-Israeli software company, for $1.35 billion in cash and stock. The San Francisco-based software company made this known in a recent announcement. The acquisition happens to have reaped good returns for ClickSoftware’s owner, Francisco Partners, which acquired it for $438 million in 2015. The private equity firm has tripled its investment in a four-year span.
ClickSoftware builds cloud-based software that companies use to schedule and manage their workforce. Its addition to Salesforce will enhance the software company’s status as the top cloud-based software provider. Salesforce has been on what can be termed an acquisition spree for some few years running. Its acquisition of ClickSoftware comes shortly after it completed a $15.7 billion deal to acquire Tableau Software. In April, Salesforce also acquired MapAnything, a location services startup. Crunchbase data puts the acquisition price at $225 million, although Salesforce didn’t disclose how much it paid.
“Our mission has been clear since the beginning—to be the global leader in field service management and deliver significant value to our customers. Joining Salesforce provides a tremendous opportunity to accelerate this vision,” ClickSoftware CEO Mark Cattini said in a statement. “As a part of Salesforce, we will be able to innovate faster, enabling our joint customers to deliver even better experiences to their customers. This is an exciting milestone, and I look forward to what we’ll deliver to our respective customers as one company after close.” He said.
On the whole, Salesforce has acquired four companies this year, excluding a somewhat unusual $300 million deal for its own philanthropic arm in April.