ClickSoftware Technologies Ltd. (NasdaqGS: CKSW), the leading provider of mobile workforce management and service optimization solutions, announced that it has entered into a definitive agreement to acquire the assets of AST (marketed as The Contractor Office).
ClickSoftware will acquire all the assets of AST including its technology, customers and employees. Under the terms of the definitive agreement, the consideration for the transaction is about USD 1.7 million in cash, most of which ClickSoftware will pay at the closing of the transaction, and a small amount of which will be paid contingent upon the achievement of certain targets. The closing is subject to certain closing conditions, and is expected to occur during the month of July.
"Our vision is to provide field service management solutions for every size of service business from 5 employees to 50,000," said Dr. Moshe BenBassat, Chairman and CEO of ClickSoftware. "In order to meet the needs of small service businesses, we recognized that we needed to provide an affordable but powerful web-based field service management solution. Through this acquisition, we now have the platform, experience and capabilities to provide exactly that," he added.
"I am very pleased to see AST and The Contractor Office brand become part of ClickSoftware. Our companies share a unified vision of leading service businesses to excellence and a shared focus on customer satisfaction, leading-edge technology and innovative deployment models," said Tamir Oren, CEO of AST. "Our customers have made it very clear that reliability, trust and ease of use are key criteria for small businesses. Becoming part of the ClickSoftware team serves to address these criteria as well as greatly extending AST's reach and visibility in the market," he added.
"We are confident that the acquired technology in conjunction with the ClickSoftware brand and organization will provide a clear differentiator in the market," said BenBassat. "We were looking for a "Software as a Service" (SaaS) company to complement ClickSoftware's portfolio of solutions. AST emerged as a leading player among On Demand Field Service Management vendors who offer a SaaS solution. This acquisition will join a broader SaaS initiative that will offer on-demand solutions to medium and enterprise sized service organizations."
ClickSoftware is the leading provider of mobile workforce management and service optimization solutions that create business value for service operations through higher levels of productivity, customer satisfaction and cost effectiveness. Combining educational, implementation and support services with best practices and its industry-leading solutions, ClickSoftware drives service decision making across all levels of the organization. From proactive customer demand forecasting and capacity planning to real-time decision making, incorporating scheduling, mobility and location-based services, ClickSoftware helps service organizations get the most out of their resources. With over 130 customers across a variety of industries and geographies, and strong partnerships with leading platform and system integration partners - ClickSoftware is uniquely positioned to deliver superb business performance to any organization. The company is headquartered in Burlington, Mass. and Israel, with offices in Europe, and Asia Pacific.