The FINANCIAL -- Oracle announced that it has entered into an
agreement to acquire Taleo Corporation, a leading provider
of cloud-based talent management for $46.00 per share or approximately
$1.9 billion, net of Taleo’s cash and debt.
Taleo’s Talent Management Cloud helps organizations attract, develop, motivate and retain human capital to improve performance and drive growth.
Together, Oracle and Taleo expect to create a comprehensive cloud offering for organizations to manage their Human Resource operations and employee careers. According to Oracle, the combination is expected to empower employees and managers to effectively manage careers throughout their entire employment, enable organizations to retain talent and optimize costs, and improve the employee experience through faster on boarding and better collaboration with team members via social media.
The Board of Directors of Taleo has unanimously approved the transaction. The transaction is expected to close mid-year 2012, subject to Taleo stockholder approval, certain regulatory approvals and other customary closing conditions.
Related Stories
