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Mergers and Acquisitions

Salesforce acquires ClickSoftware for $1.35bn

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Salesforce and ClickSoftware agreed on final details of the merger of the two providers. Salesforce is expected to pay $1.3bn.

Details regarding ClickSoftware acquisition

Under the terms of the definitive agreement, Salesforce will acquire ClickSoftware for an amount expected to be approximately $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.

Synergy effect

Salesforce is one of the major CRM system manufacturers worldwide, while ClickSoftware specialies in the field service management solutions. The addition of ClickSoftware will enhance Salesforce Service Cloud’s leadership as the leading service platform.

ClickSoftware enables companies to intelligently schedule and optimize field service work. 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, centralized platform.

“Delivering exceptional field service is an increasingly important priority for companies across industries with more than 70 percent 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.”

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 further advance the on-site customer service experience.

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.

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