Software giant Salesforce buys Israeli firm for $1.35 billion

San Francisco: US-based software giant Salesforce signed an agreement to acquire Israeli workplace management company Clicksoftware for $1.35 billion, the two companies have announced. Clicksoftware, founded in 1996, produces and markets resource management software in customer service systems.

Salesforce, a leading global company in customer relations management, was founded in 1999 and employs about 30,000 people worldwide. Salesforce develops Cloud computing solutions for the business sector, with emphasis on solutions for sales, customer relations and business services.

Following the deal, Salesforce is expected to expand its development center in Israel's coastal city of Tel Aviv. The biggest benefit of the deal is to the US private equity firm Francisco Partners, which acquired Clicksoftware in 2015 for $438 million.

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