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ClickSoftware Technologies Ltd. (Nasdaq: CKSW) has acquired cloud-based mobile workforce management solutions developer Xora Inc., by merger, for $14.7 million in cash, plus working capital and cash adjustments. The closing is expected to occur in the coming weeks.
Xora, Inc., based in Mountain View, California, provides software-as-a-service (SaaS) solutions for companies whose success depends on the productivity and efficiency of ‘always mobile’ workers. Xora delivers its solutions to more than 130, 000 users and is one of North America’s largest providers of mobile workforce management solutions.
The company was recognized by Frost & Sullivan in 2012 with the Market Share Leadership Award for its intuitive StreetSmart application that helps companies, across a wide variety of industries, to more effectively manage the activities and performance of their employees in the field. Among Xora’s distinguished partners are US leading carriers such as Verizon, AT&T and Sprint.
The combination of Xora and ClickSoftware creates a company with breadth and depth for a much bigger market under one roof. ClickSoftware strengthens its 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 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 is an important and strategic addition to our mobile workforce management business and accelerates our cloud recurring revenues, ” said Dr. Moshe BenBassat, ClickSoftware’s Founder and CEO. “The visions and cultures of both companies are perfectly aligned, bringing together the management of mobile workers, tasks, and physical assets such as equipment and vehicles. By combining ClickSoftware’s sophisticated, highly configurable offerings for the large and higher end of the mid-size enterprise market with Xora’s suite of configurable, ready-to-use solutions for the lower end of the mid-size and small business market, we achieve the strategic objective to offer a complete portfolio of best-in-class mobile apps for all business roles, in all size companies, in all industry verticals.”
“I am very excited to have Xora become part of ClickSoftware and our future together. Our companies share a focus on customer success, leading-edge technology and innovation, ” said Anne Bonaparte, Xora’s CEO. “Becoming part of the ClickSoftware team serves to extend Xora’s impact and global reach.”