Salesforce to Acquire ClickSoftware for USD 1.5 Billion
Salesforce is in talks to acquire software developer ClickSoftware Technologies for around USD 1.5 billion. Salesforce, the global leader in CRM, announced that it had signed a definitive agreement to acquire ClickSoftware, a leader in field service management solutions. The addition of ClickSoftware will enhance Salesforce Service Cloud’s leadership as the #1 service platform, empowering […]
Salesforce is in talks to acquire software developer ClickSoftware Technologies for around USD 1.5 billion.
Salesforce, the global leader in CRM, announced that it had signed a definitive agreement to acquire ClickSoftware, a leader in field service management solutions. The addition of ClickSoftware will enhance Salesforce Service Cloud’s leadership as the #1 service platform, empowering every service employee from the contact centre to the field to deliver more connected, intelligent customer service.
“Delivering exceptional field service is an increasingly important priority for companies across industries with more than 70 per cent of customer service leaders making significant investments to transform their mobile workforce,” said Bill Patterson, EVP and GM of Salesforce Service Cloud. “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. We are thrilled to welcome the ClickSoftware team to Salesforce.”
ClickSoftware enables companies to schedule and optimise field service work intelligently. Salesforce Field Service Lightning, built on Service Cloud, harnesses the latest in dispatching, mobile workforce empowerment and IoT technologies to empower companies to connect their entire service workforce on a single, centralised platform. With the combined capabilities of Field Service Lightning and ClickSoftware, Salesforce will be positioned to lead the way to the future of field service.
“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,” said Mark Cattini, CEO of ClickSoftware. “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.”
The Future of Service: Connected & Intelligent Field Service Experiences
As connected devices become smarter and more predictive, customers’ expectations are evolving to expect faster, more tailored engagement based on their unique needs. Companies must transform their customer service to stay competitive. This creates huge opportunities to advance the on-site customer service experience further.
Salesforce introduced Field Service Lightning in 2016 to empower the mobile workforce with a 360-degree view of the customer, predictive insights and an offline-first mobile app. ClickSoftware and Salesforce have partnered since Field Service Lightning launched to deliver proactive, intelligent field service. With ClickSoftware and Field Service Lightning, if a mobile employee gets delayed by traffic, a dispatcher can quickly route another field technician to the job, so the customer’s appointment does not get delayed. These interactions are then automatically updated across the entire Salesforce platform, so everyone — customers, sales, customer service and field service — has complete visibility.
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As customer service continues to evolve, the acquisition of ClickSoftware will create strategic synergies, technological unity and innovation opportunities for Salesforce to better meet the needs of existing and new customers around the world by providing one seamless field service solution.
Details of the Proposed ClickSoftware Acquisition
Under the terms of the definitive agreement, Salesforce will acquire ClickSoftware for an amount expected to be approximately USD 1.35 billion, net of the value of shares currently owned by Salesforce, after taking into consideration estimated purchase price adjustments. The purchase price will comprise a mix of cash and Salesforce common stock and includes the assumption of outstanding equity awards held by ClickSoftware employees.
The acquisition is expected to close during Salesforce’s fiscal quarter ending October 31, 2019, subject to customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and Israeli antitrust clearance.
Also Read: Salesforce Named a Leader in Data Management Platforms by Forrester Research
US private equity firm Francisco Partners bought ClickSoftware in 2015 for USD 438 million and delisted the provider of cloud-based field service management software from Nasdaq.
If a deal goes ahead, it would be the second significant acquisition by Salesforce in less than a year after it paid USD 850 million for Datorama, a cloud-based artificial intelligence marketing platform.
