HireCentrix News Updates
In Oracle’s second major acquisition in the past three months, they’ve announced the purchase of Dublin, California-based Taleo Corp for north of $1.9 billion. Taleo’s main offering is a software that manages human resource workflow, and can be delivered over the internet. This acquisition continues the company’s efforts to expand their share of the cloud computing market, a recent addition to the industry, where storage, software and computing power can be provided to the consumer from remote data centers all over the world. Oracle’s purchase of Taleo also appears to be a direct response to a deal announced in December by SAP AG, who plan to acquire talent-management company SuccessFactors for $3.4B. Oracle trails only SAP in the business management software industry, though both companies still trail SalesForce.com Inc, in cloud technology. On the heels of that deal, Oracle reported their fiscal second-quarter earnings, which missed the estimates of industry analysts. Their difficulty in closing some recent deals was noted as a factor in their underperformance in 2011.
Holders of Taleo stock will receive $46 per share, 18% higher than Taleo’s closing price Wednesday.
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