Francisco Partners completes the sale of ClickSoftware to Salesforce for $1.4 Billion Enterprise Value
Press Releases — Oct 01, 2019
Partnering with Founders
San Francisco and London – Francisco Partners, a leading technology-focused global private equity firm, today announced it has completed the sale of 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 and Unisys.
“Over the years, Click has built a leading product and a very strong market position. We are very proud to have been part of the company’s journey and wish all its employees continued success as part of Salesforce,” said Matt Spetzler, partner at Francisco Partners. “It has been a pleasure to partner with the Click team for these last four years and help them become a true global leader in Field Service Management,” commented Petri Oksanen, partner at Francisco Partners.
“The Click team has built an incredible company. We believe they are very well positioned for continued success as part of Salesforce,” added Mario Razzini, principal at Francisco Partners.
“Francisco Partners was a great partner for Click over the last few years,” said Mark Cattini, CEO of ClickSoftware. “Their strategic advice and the resources they contributed helped us improve many aspects of our business and accelerate revenue growth.”
“This is a fantastic outcome for ClickSoftware and Francisco Partners,” said Dipanjan Deb, Co-Founder and Chief Executive Officer of Francisco Partners. “Our investment in Click is a testament to our strategy of complexity arbitrage: we bought an orphaned public company, committed the full resources of the firm to improve the business across multiple dimensions, and ultimately sold to a strategic buyer.”
Goldman Sachs acted as the exclusive financial advisor and Paul Hastings acted as legal advisor to Francisco Partners.
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 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
The company's software contains advanced decision-making algorithms that help managers optimize their business practices, helping them complete more calls per day, week, month, and year. Click solutions address the fundamental questions of job fulfillment for any service organization: "Who does What, With what, When, Where and for Whom". By automating this process, Click's customers are able to manage their service business more efficiently, saving costs and making customers happier. Click is the biggest, most versatile company in this field, delivering a complete end-to-end mobile workforce solution to the service industry that is comprised of over 20 years of experience and more than 500 person-years in research and development.