Oracle has acquired SelectMinds, a provider of cloud-based, social talent sourcing apps that allow companies to use social networks such as Facebook to recruit employees. Terms of the deal were not disclosed.
It is Oracle’s year for buying companies in the human capital management market (HCM). Earlier this year it acquired Taleo for $1.92 billion. Taleo’s solutions help customers attract, motivate, and retain employees.
SelectMinds gives company recruiters, hiring managers and employees use of their own social networks to recruit people. The acquisition is testament to the deep competition playing out in the market. For example, the SaaS solution allows customers to send new job listings, links, and status updates to Facebook pages and Twitter handles.
The deal gives Oracle the opportunity to engage deeper in social networks and mobile. With SelectMinds, customers can transform job posts into a mobile job post that’s viewable and sharable on smartphones.
Competition in the market is highlighted by Workday, which recently filed for a $400 million IPO. The news is timed to disrupt Salesforce.com’s Dreamforce event, which will feature the launch of work.com, an HCM service.
Constellation Research Founder Ray Wang said in an email interview that Select Minds has had success with Facebook recruiting. Customers choose Select Mind because they see social as a key strategy.
SelectMinds helps businesses maintain the valuable relationships with past and current employees and build a strong corporate community. SelectMinds TalentVine helps businesses maximize the potential of social sourcing, eases the referral recruiting process and leverages the existing networks of current and former employees. SelectMinds AlumniConnect helps businesses build secure online communities to maintain the relationship among past and current employees. SelectMindsâ€™ clients include J.P. Morgan, ADP, IBM, Lockheed Martin, Latham & Watkins, Schlumberger and Hewitt.