Francisco Partners said Aug. 7 that it agreed to sell ClickSoftware to Salesforce for $1.4 billion. Click provides field service management solutions and optimization technology. Francisco took ClickSoftware private in 2015 in a $438 million deal. UPDATE: Michael Dorf and J. Russel Denton of Shearman & Sterling advised Salesforce.
ClickSoftware to be Acquired by Salesforce for $1.4 Billion Enterprise Value
San Francisco and London – Francisco Partners, a leading technology-focused global private equity firm, today announced it has entered into a definitive agreement to sell ClickSoftware (“Click”) to Salesforce (NYSE: CRM) for an enterprise value of $1.4 billion. Francisco Partners took Click private in 2015.
Click is a leading provider of field service management solutions and optimization technology. The company arms field service professionals and mobile workers with innovative, AI-driven technologies and real-time schedule and route optimization at scale to improve their efficiency and effectiveness. Founded in 1997, Click is a pioneer in applying complex algorithms and artificial intelligence to workforce management and today helps manage over 1 million field resources around the world in a wide variety of industries including for organizations like Bosch, Deutsche Telekom, Ericsson and Unisys.
“Since inception, Click has had a unique technology to optimize service. It has been our pleasure to partner with the Click team for these last four years as we worked with them to accelerate innovation and growth,” said Matt Spetzler, partner at Francisco Partners. “We are grateful for the opportunity to support Click and all of its great employees. We wish them continued success as part of Salesforce,” added Petri Oksanen, partner at Francisco Partners.
“Francisco Partners provided valuable strategic support, capital, and resources that allowed us to execute on a strong strategic vision,” said Mark Cattini, CEO of ClickSoftware. “They were an exceptional partner for us and worked closely with our team to help improve many aspects of our business and accelerate growth.”
Goldman Sachs acted as the exclusive financial advisor and Paul Hastings acted as legal advisor to Francisco Partners.
Additional detail on the transaction can be found here: https://www.salesforce.com/company/news-press/press-releases/2019/08/190708-d/
About Francisco Partners
Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 275 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit: www.franciscopartners.com