BURLINGTON, Massachusetts,
March 5, 2014 /PRNewswire/ --
ClickSoftware Technologies Ltd. (NasdaqGS: CKSW), the leading
provider of automated mobile workforce management and
optimization solutions for the service industry, today announced it
has successfully completed its acquisition of Xora Inc., a
cloud-based market leader in mobile workforce management.
ClickSoftware acquired Xora for total cash consideration of
approximately $15 million, including
all working capital and net cash adjustments. Xora will retain its
name and operate as a wholly owned subsidiary of ClickSoftware.
Anne Bonaparte, the former CEO of
Xora, will continue to lead the company as President.
The combination of Xora and ClickSoftware creates a company with
breadth and depth for a much bigger market under one roof.
ClickSoftware strengthens its leadership position by offering
customers a broader range of cloud-based mobile workforce
management apps. Xora benefits from ClickSoftware's international
presence and access to service resource optimization products. This
acquisition will also extend ClickSoftware's market reach into the
SMB (Small and Medium Businesses) market and opens a distribution
channel through leading wireless carriers. ClickSoftware,
which was already managing the largest community of mobile workers,
will now add the 130,000 users of Xora to its more than 500,000
user base and will distance itself further ahead from the
competition.
"The acquisition of Xora serves to considerably broaden our
total addressable market, providing us a complete portfolio of
best-in-class mobile solutions for all business roles, in all size
companies, in all industry verticals," said Dr. Moshe BenBassat, Founder and CEO of
ClickSoftware. "With the acquisition now complete, we look forward
to leveraging the considerable synergies of our joint leading
organizations, to deliver leading-edge technology and innovation in
mobile workforce management."
About ClickSoftware
ClickSoftware (NasdaqGS: CKSW) is the leading provider of
automated mobile workforce management and service optimization
solutions for the enterprise, both for mobile and in-house
resources. As pioneers of the "Service chain optimization" and "The
real-time service enterprise" concepts, our solutions provide
organizations with end-to-end visibility and control of the entire
service management chain by optimizing forecasting, planning, shift
and task scheduling, mobility and real-time management of resource
and customer communication.
Available via the cloud or on-premise, our products incorporate
best business practices and advanced decision-making algorithms to
manage service operations more efficiently, in a scalable,
integrated manner. Our solutions have become the backbone for many
leading organizations worldwide by addressing the fundamental
question of job fulfillment: Who does What, for Whom, With what,
Where and When.
ClickSoftware is the premier choice for delivering superb
business performance to service sector organizations of all sizes.
The Company is headquartered in the
United States and Israel,
with offices across Europe, and
Asia Pacific. For more
information, please visit http://www.clicksoftware.com. Follow us
on Twitter, the content of which is not incorporated herein by
reference.
To download ClickSoftware's investor relations app, which offers
access to SEC documents, press releases, videos, audiocasts and
more, the content of which is not incorporated herein by reference,
please visit Apple's App Store to download on your iPhone and iPad,
or Google Play for your Android mobile device.
Safe Harbor Statement
This press release contains express
or implied forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 and other U.S.
Federal Securities Laws. These forward-looking statements include,
but are not limited to, those statements regarding the expected
benefits from the acquisition of Xora, anticipated market needs and
the expected increase in the number of markets ClickSoftware can
address. Such "forward-looking statements" involve known and
unknown risks, uncertainties and other factors that may cause
actual results or performance to differ materially from those
projected. Achievement of these results by ClickSoftware may be
affected by many factors, including, but not limited to, risks and
uncertainties regarding the general economic outlook,
ClickSoftware's ability to close sales to potential customers in a
timely manner and maintain or strengthen relationships with
strategic partners, ClickSoftware's ability to retain Xora's
customers and employees, the ability of ClickSoftware to integrate
Xora's technology with its existing offerings and ClickSoftware's
ability to maintain or increase its sales pipeline. The
forward-looking statements contained in this press release are
subject to other risks and uncertainties, including those discussed
in the "Risk Factors" section and elsewhere in ClickSoftware's
annual report on Form 20-F for the year ended December 31, 2012 and in subsequent filings with
the Securities and Exchange Commission. Except as otherwise
required by law, ClickSoftware is under no obligation to (and
expressly disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
ClickSoftware Contact:
Noa Schuman
Investor Relations
+972-3-7659-467
Noa.Schuman@clicksoftware.com
Investor Relations Contact:
Rob Fink
KCSA Strategic Communications
+1-212-896-1206
rfink@kcsa.com
SOURCE ClickSoftware Technologies Ltd