Francisco Partners Completes Acquisition of ClickSoftware

Dr. Moshe BenBassat, Founder and CEO, to step down. Paul Ilse, Francisco Partners' Operating Partner, appointed as CEO

Jul 14, 2015, 04:30 ET from ClickSoftware Technologies Ltd

SAN FRANCISCO and BURLINGTON, Massachusetts, July 14, 2015 /PRNewswire/ --

Francisco Partners, a global technology-focused private equity firm, announced it has completed its acquisition of ClickSoftware, a leading provider of automated mobile workforce management and optimization solutions for the service industry. ClickSoftware is now officially a private company, and will continue to operate as ClickSoftware Technologies Ltd.

Matt Spetzler, partner at Francisco Partners, commented, "Now that we have completed the acquisition, we look forward to partnering with all of the employees of ClickSoftware to continue to build a company delivering world-class solutions to its customer base.  We are excited by the considerable growth potential that ClickSoftware has in the marketplace and will support the Company on its journey as it expands its market leadership with the transition to the Cloud."

Dr. Moshe BenBassat, ClickSoftware's Founder and CEO, has decided to retire from the CEO role, though he will remain a board member of ClickSoftware and also serve as an active advisor in further advancing its strategic goals and growth objectives.

Paul Ilse, an Operating Partner with Francisco Partners, has initially been named as Chief Executive Officer of ClickSoftware, and, together with the existing executive team will lead the Company to achieve its growth targets. Paul has nearly 20 years of executive leadership experience in enterprise application software solutions, most recently with Aptean and previously with RedPrairie Corporation.

Also in conjunction with the closing of the transaction, Hannan Carmeli, former President and Co-CEO at ClickSoftware, will rejoin the Company in the role of President, based in Israel.

Dr. Moshe BenBassat commented, "I reached 67 last November, certainly a good age to transition the leadership of ClickSoftware, and with Francisco Partners now as the new owner, I decided this is the right time to pass the baton on to my successor. I feel honored and privileged to have had the opportunity to work with such an extraordinary team of individuals at ClickSoftware. Together we have built a company which is widely recognized as the consensus market leader in software products for service and workforce optimization. ClickSoftware has a fantastic future ahead, and I look forward to continuing to support the Company in the future."

Paul Ilse added, "Dr. BenBassat and the management team have built a very successful company, and I am looking forward to joining them in designing and executing our strategy to continue bringing high value for our customers and partners."

About ClickSoftware 

ClickSoftware is a 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 delivers 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 Follow us on Twitter.

About Francisco Partners 

Francisco Partners is a global private equity firm that specializes in investments in technology companies. Since its launch fifteen years ago, FP has raised approximately $10 billion in committed capital and invested in more than 150 technology companies, making it one of the most active investors in the industry. The firm invests in transaction values ranging from $50 million to over $2 billion, where the firm's deep sub-sector knowledge and operational expertise can help a company realize its full potential.

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SOURCE ClickSoftware Technologies Ltd