|By PR Newswire||
|February 18, 2014 03:01 AM EST||
BURLINGTON, Mass., Feb. 18, 2014 /PRNewswire/ -- ClickSoftware Technologies Ltd. (NasdaqGS: CKSW), the leading provider of automated mobile workforce management and optimization solutions for the service industry, today announced it has entered into a definitive agreement to acquire Xora Inc., a cloud-based market leader in mobile workforce management, by merger. Under the terms of the merger agreement, the consideration for the transaction is approximately $14.7 million in cash, plus working capital and cash adjustments. The closing is subject to certain closing conditions and purchase price adjustments, and 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 leadership 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, which was already managing the largest community of mobile workers, 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. Xora's extensive and long term experience selling packaged apps through the wireless carriers like AT&T, Verizon and Sprint, considerably expands our distribution channels. We welcome Xora's CEO Anne Bonaparte and her technology savvy professional team to the ClickSoftware family."
"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."
Research from Frost & Sullivan indicates that the market for Mobile Workforce Management Solutions will continue to grow, and estimates that annual North American revenues will grow at a Compound Annual Growth Rate (CAGR) of 40.5% to reach almost $3 billion by 2018. The research also indicates that market penetration remains low, with 45% of businesses planning to introduce or expand mobile application deployment over the next three years (Source: Mobile Workforce Management Market: Prepackaged Mobile Field-Based Worker Applications in North America, Frost & Sullivan report NC4B-65, December 2013). The acquisition of Xora is intended to enable ClickSoftware to quickly expand its access to this growing market and extend its market leading position.
"Combining ClickSoftware and Xora is just the type of acquisition that will contribute to the high rate of growth in the market of mobile workforce management solutions. There is a tremendous amount of opportunity in this market, and this acquisition positions ClickSoftware to reap a healthy portion of it," said Jeanine Sterling, Principal Analyst at Frost & Sullivan. "There are a multitude of benefits that make this development between two market leaders a mutual win, mostly based on synergies in product capabilities, target markets, and channel relationships. Our mobile enterprise applications research shows a steady migration of customers toward cloud-based solutions. This deal will accelerate ClickSoftware's ability to satisfy this preference -- with both its new and embedded customers. Distribution relationships should also expand in a good way. Xora has created and nurtured strong channel partnerships with Tier 1 wireless carriers, which should nicely complement ClickSoftware's own partner and distribution efforts, providing a mutual opportunity to expand distribution."
Management Conference Call
ClickSoftware will host a conference call today at 9:00 a.m. EST to discuss this transaction, as well as answer questions from the investment community. To participate, please call (888) 407-2553 and ask for the ClickSoftware conference call. International participants, please call +972-3-918-0610. The call will be broadcasted by live webcast on the internet (in listen mode only) at http://ir.clicksoftware.com. A replay of this webcast will be available on the ClickSoftware website and on the Investor Relations App. Alternatively, a telephone replay of the call will be available for a week by calling (888) 295-2634 (international callers can dial +972-3-925-5927).
ClickSoftware (NasdaqGS: CKSW) is the 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 is the premier choice for delivering 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 http://www.clicksoftware.com. Follow us on Twitter, the content of which is not incorporated herein by reference.
To download ClickSoftware's investor relations app, which offers access to SEC documents, press releases, videos, audiocasts and more, the content of which is not incorporated herein by reference, please visit Apple's App Store to download on your iPhone and iPad, or Google Play for your Android mobile device.
Xora is a market leader in mobile workforce management. Our flagship product is a suite of configurable mobile apps and a web-based management application that helps mobile businesses and their field employees work smarter and faster. Xora mobile apps turn any mobile device into a powerful productivity tool. The management application lets you analyze data for better decision making. By integrating our products with back-office systems, you can automate business processes and eliminate manual paperwork. Xora's cloud-based model makes deployment easy and cost effective for any organization. More than 15,000 organizations rely on Xora every day to save money and grow their businesses. Frost & Sullivan honored Xora with its 2012 Market Share Leadership Award for being North America's #1 market leader in mobile workforce management. For more information, visit www.xora.com, the content of which is not incorporated herein by reference.
Safe Harbor Statement
This press release contains express or implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. Federal Securities Laws. These forward-looking statements include, but are not limited to, those statements regarding the expected closing date for the acquisition of Xora, the expected benefits from this acquisition, anticipated market needs and the expected increase in the number of markets ClickSoftware can address. Such "forward-looking statements" involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. Achievement of these results by ClickSoftware may be affected by many factors, including, but not limited to, risks and uncertainties regarding the completion of conditions necessary to close the Xora acquisition, the general economic outlook, ClickSoftware's ability to close sales to potential customers in a timely manner and maintain or strengthen relationships with strategic partners, ClickSoftware's ability to retain Xora's customers and employees, the ability of ClickSoftware to integrate Xora's technology with its existing offerings and ClickSoftware's ability to maintain or increase its sales pipeline. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in ClickSoftware's annual report on Form 20-F for the year ended December 31, 2012 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, ClickSoftware is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Investor Relations Contact:
KCSA Strategic Communications
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Mar. 30, 2017 06:00 AM EDT Reads: 3,134
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists l...
Mar. 30, 2017 05:00 AM EDT Reads: 10,093
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Mar. 30, 2017 04:45 AM EDT Reads: 3,363
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
Mar. 30, 2017 04:45 AM EDT Reads: 3,334
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
Mar. 30, 2017 04:45 AM EDT Reads: 438
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Mar. 30, 2017 04:15 AM EDT Reads: 993
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Mar. 30, 2017 04:15 AM EDT Reads: 2,274
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service.
Mar. 30, 2017 04:00 AM EDT Reads: 3,255
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Mar. 30, 2017 03:45 AM EDT Reads: 3,487
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Mar. 30, 2017 02:15 AM EDT Reads: 4,147
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Mar. 30, 2017 01:30 AM EDT Reads: 2,659
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Mar. 30, 2017 01:15 AM EDT Reads: 1,260
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Mar. 30, 2017 01:00 AM EDT Reads: 8,347
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to max...
Mar. 30, 2017 12:45 AM EDT Reads: 758
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Mar. 30, 2017 12:30 AM EDT Reads: 1,562