Salesforce acquires Israeli software developer ClickSoftware for $1.35 billion

Salesforce sees synergy in the deal as it would help it accelerate the growth of its Service Cloud platform.

On Thursday, U.S. cloud-based service provider Salesforce stated, it has signed an agreement to acquire ClickSoftware, an Israeli software developer, for $1.35 billion in cash and shares.

The acquisition of ClickSoftware, which makes cloud-based field service management software, is likely to accelerate the growth of its Service Cloud platform, said Salesforce.

The deal comes just a week after Salesforce completed its $15 billion plus acquisition of Tableau, a big data firm.

Salesforce said its offer was net of the value of shares it already owns, after taking into consideration estimated purchase price adjustments.

Salesforce expects the acquisition to close during its fiscal quarter ending October 31.

In 2015, U.S. private equity firm Francisco Partners had purchased ClickSoftware for $438 million and had taken it private delisting it from Nasdaq.

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