Company intends to further discuss this acquisition in the upcoming earnings call in next month
ClickSoftware Technologies, a provider of mobile workforce management and service optimization services, has entered into a definitive agreement to acquire the Manchitra workforce management business from Manchitra Services.
According to ClickSoftware, it will acquire all the assets of the Manchitra workforce optimization business including its product, customers and about 25 employees. All of these assets will be transferred to a newly formed subsidiary, ClickSoftware India, which along with the acquired employees will also provide ClickSoftware with a base for off-shore research and development as well as the opportunity to expand their implementation services outside India.
Under the terms of the definitive agreement, the consideration for the transaction is about $2.65 million which ClickSoftware will pay in cash at the closing of the transaction. The closing is subject to certain closing conditions, and is expected to occur during the month of April 2009.
Moshe BenBassat, chairman and CEO of ClickSoftware, said: The value of workforce management and optimization solutions is gaining recognition in India primarily by utilities and telecommunication companies involved in the massive expansion of the country’s infrastructure.
ClickSoftware is a provider of mobile workforce management and service optimization services. The company is headquartered in Burlington, and Israel, with offices in Europe, and Asia Pacific.