NEW YORK ( TheDeal ) -- ClickSoftware Technologies ( CKSW ) said Thursday it has agreed to be taken private by Francisco Partners in a deal valuing the company at $438 million. Terms of the deal call for Francisco to pay $12.65 per share in cash for the Israeli software vendor, a premium of 29% to the target's Wednesday close and 45% above the company's average closing price over the previous 90 days. The deal, which is subject to shareholder approval, is expected to close before the end of July. ClickSoftware specializes in mobile workforce management tools for the service industry. The company, which was founded in 1979 by current CEO Moshe BenBassat, generated ebitda of $340,000 on sales of $126.2 million in the twelve months ending Dec. 31. BenBassat in a statement said that the agreement follows "a comprehensive evaluation and review of strategic alternatives," saying he believes the deal is in the best interest of both shareholders and the company.