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Salesforce negotiating ClickSoftware for $1.5 billion

Last Wednesday, Salesforce.com, in a bid to acquire ClickSoftware Technologies, remained in talks with U.S.-Israeli software developer, the Calcalist financial news website reported.

The US cloud based software giant is reportedly offering an amount of nearly $1.5 billion to buy the ClickSoftware, a cloud based field service management software developer and currently owned by US private equity fund Francisco Partners.

In 2015, Francisco Partners, a technology-focused private equity firm, bought ClickSoftware in an all-cash transaction valued at $438 million. After that transaction ClickSoftware became a privately held company and delisted from Nasdaq where it had started shares trading back in 2000. Moshe BenBassat, who founded the company in 1997, remained CEO of ClickSoftware till its acquisition by Francisco Partners in 2015, but still is a member of its board. The company is headquartered at Petah Tikva, Israel and has been currently employing about 500 staff in Israel.

SintecMedia, NSO and Dmatek are the other Israeli companies owned by Francisco Partners, who formerly owned Ex Libris.

Last year in August, Salesforce had completed the transaction by paying $850 million to purchase Datorama, an Israeli startup which provides cloud-based artificial intelligence marketing platform, as Salesforce attempts to ramp-up competition with rival marketing cloud providers such as Adobe and Oracle and if the deal accomplishes, then it would mark Salesforce’s another significant acquisition in Israel within a year.

In its last quarterly earnings results, Salesforce, on November 27, had reported earnings of $0.61 per share which was $0.39 per share a year ago while consensus estimate for the same quarter was of $0.51 per share thus beat the estimate by $0.1. For that quarter, Salesforce came up generating revenue of $3.39 billion beating consensus estimate of $3.37 billion though by a very thin margin, but it remained up by 25.6 percent on a year-over-year basis.

James Moon

Written by James Moon

James Moon:- Business and Services
I am James Moon and I give “News Stories World” an insight into the most recent news hitting the “Business and Services” sector in Wall Street. I have been an independent financial adviser for over 13 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.

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