ClickSoftware Technologies Ltd. (Nasdaq: CKSW) has acquired cloud-based mobile workforce management solutions developer Xora Inc. for $14.7 million in cash, plus working capital and cash adjustments. The deal will be closed in a few weeks.
Xora provides software-as-a-service (SaaS) solutions for companies whose success depends on the productivity and efficiency of ‘always mobile’ workers. It has over 130,000 users and is one of North America’s largest providers of mobile workforce management solutions, and it works Verizon Communications Inc. (NYSE: VZ), AT&T Inc. (NYSE: T), and Sprint Corporation (NYSE: S).
ClickSoftware says that its merger with Xora creates a company with breadth and depth for a much bigger market and strengthens its leadership position by offering customers a broader range of cloud-based mobile workforce management apps. The acquisition will also extend the company's market reach into the small and medium business market and opens a distribution channel through leading wireless carriers. ClickSoftware will 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 is an important and strategic addition to our mobile workforce management business and accelerates our cloud recurring revenues,” said ClickSoftware CEO Dr. Moshe BenBassat.
Published by Globes [online], Israel business news - www.globes-online.com - on February 18, 2014
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