Salesforce to Buy Workforce Management Software Firm

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08/07/2019 | 10:27 pm
Patrick Thomas

By Patrick Thomas Inc. said Wednesday it struck a $1.35 billion deal to buy ClickSoftware Technologies Ltd., as the company aims to bolster the services it offers to customers.

ClickSoftware is used by companies to schedule field service work and develops workplace management software. Private-equity firm Francisco Partners Management L.P. bought the company in 2015 for $438 million.

"Our acquisition of ClickSoftware will not only accelerate the growth of Service Cloud, but drive further innovation with Field Service Lightning to better meet the needs of our customers," Bill Patterson, general manager of the Salesforce Service Cloud unit, said in a statement.

San Francisco-based Salesforce said the cash and stock deal is expected to close during the company's quarter ending Oct. 31.

Salesforce, the seller of so-called customer relationship management software, has built a powerful software business with over $13 billion in annual revenue by helping companies ditch legacy computer systems and move data to the cloud.

Salesforce recently agreed to buy data-analytics platform Tableau Software Inc. for more than $15 billion in stock. The company has made several pricey acquisitions in recent years, aimed at broadening the tools and services it offers.

Last year, Salesforce bought web-based service MuleSoft Inc. in a $6.5 billion deal, as it sought to migrate more clients to cloud services. The company also bought e-commerce platform Demandware Inc. for $2.8 billion in 2016.

Salesforce shares ticked down about 2% during after-hours trading.

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