Oracle this morning announced that it is acquiring cloud-based talent management solutions provider Taleo for $46 per share or roughly $1.9 billion, net of Taleo’s cash and debt. Taleo’s solutions basically help organizations attract, motivate and retain human capital, and will serve to boost Oracle’s Public Cloud offering.
The transaction is expected to close in the Summer of 2012. Here’s how Oracle pitches the buy:
Together, Oracle and Taleo expect to create a comprehensive cloud offering for organizations to manage their Human Resource operations and employee careers.
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.
Until the deal closes, Oracle and Taleo will continue to operate independently. According to Taleo, more than 5,000 organizations use its solutions today.
Its stock price closed at just south of $39 yesterday.
Taleo (NASDAQ: TLEO) is a provider of on demand unified talent management solutions for organizations around the world to assess, acquire, develop and align their workforce.