Israeli field-service software company Clicksoftware was bought for $1.35 billion on Wednesday by U.S. tech giant Salesforce.

Salesforce will pay in cash and shares, and is expected to complete the deal by Oct. 31.

Based in Petach Tikvah, Clicksoftware is owned by U.S. private equity fund Francisco Partners.

The company has 200 employees in Israel and develops logistical management systems for customer service and technical support, sending out technicians and tracking the results. The company was founded more than 20 years ago by Moshe Benbassat, who has since left the company.

Clicksoftware reported annual revenue of $144 million in 2016.

Israeli high-tech companies were part of 66 exit deals amounting to $14.48 billion in the first half of 2019 alone, setting a five-year record, business analysis firm IVC–Meitar reported in July.

The total value of such deals in the first half of 2018 amounted to nearly $6.5 billion. Overall, Israeli high-tech companies were part of merger and acquisition deals amounting to $13 billion in 2018.

In 2013, the Tel Aviv-based Waze navigation application was purchased by Google for $1.1 billion.

This article first appeared in Israel Hayom.

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