Francisco Partners to buy ClickSoftware in $438 mln deal

Francisco Partners has agreed to buy ClickSoftware Technologies Ltd. in a deal valued at about $438 million cash. Terms of the deal call for Francisco to pay $12.65 a share cash for each outstanding ClickSoftware share. ClickSoftware provides automated mobile workforce management and optimization products for the service industry. Jefferies LLC provided financial advice to ClickSoftware.


Francisco Partners to acquire HealthcareSource

Francisco Partners has agreed to buy Woburn, Massachusetts-based HealthcareSource, a talent management solutions provider for healthcare. No financial terms were disclosed. William Blair & Company provided financial advice to HealthcareSource on the transaction. HealthcareSource was backed by Insight Venture Partners.


Francisco Partners to buy Procera Networks in $240 mln deal

Francisco Partners has agreed to buy Procera Networks Inc. in a deal valued at about $240 million. Francisco Partners is paying $11.50 cash for each share of Procera stock. Stifel, Nicolaus & Company Inc. acted as financial advisor to Procera. Fremont, California-based Procera is networking equipment company.


Francisco Partners leads $60 mln round for Betterment

New York City based-automated investing service Betterment has raised $60 million in funding. Francisco Partners led the round with participation from other investors that included Bessemer Venture Partners, Menlo Ventures and Northwestern Mutual Capital. In addition to the funding, Betterment has named Peter Christodoulo of Francisco Partners to its board of directors.


Clearlake Capital to buy FrontRange Solutions

Clearlake Capital Group said Thursday it has agreed to buy FrontRange Solutions. Financial terms weren’t announced. Francisco Partners acquired FrontRange in 2005. Clearlake said it is merging FrontRange with portfolio company Lumension to form Heat Software. Milpitas, California-based Heat Software provides hybrid service management and unified endpoint management solutions for businesses. Stifel acted as financial advisor to FrontRange. Wells Fargo Capital Finance, PNC Bank, Capital One and Consortium Finance provided financing.


PE-owned Vendavo hires president/CEO

Vendavo, which is owned by Francisco Partners, has appointed Patrick D. Quirk as president and CEO. Vendavo’s interim CEO David Mitchell, who is also an operating partner at Francisco Partners, will remain on the firm’s board of directors. Previously, Quirk worked at Achievers where he served as president and CEO. Headquartered in Mountain View, California, Vendavo provides margin and profit optimization solutions.


Francisco Partners invests in eSolutions

Francisco Partners has invested in eSolutions. Financial terms weren’t announced. Esolutions said that Gene Creach, its current president, will succeed founder and current CEO Bill Creach as chief executive officer following the close of the transaction. Olathe, Kan.-based eSolutions provides healthcare technology and analytics solutions. TripleTree acted as the exclusive financial advisor to eSolutions.


Vector Capital promotes two to MD

Vector Capital has promoted Alex Beregovsky and Andy Fishman to managing director. Prior to joining Vector, Fishman worked at Silver Lake Partners and Goldman Sachs while Beregovsky worked at a number of firms, among them Viking Global Investors and Francisco Partners.


Francisco Partners completes acquisition of Vendavo

Francisco Partners has completed the acquisition of Vendavo, Inc., a big data company focused on price optimization for businesses. As part of the deal, Francisco Partners operating partner David Mitchell will become Vendavo’s chief executive officer. Current CEO Neil Lustig will move into an advisory role with Vendavo.


Francisco Partners to acquire Vendavo

Francisco Partners is to acquire Vendavo. Based in Mountain View, Calif, Vendavo provides revenue and price optimization and management solutions for B2B mid-market and enterprise companies.

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