Oracle has entered into an agreement to acquire Taleo Corporation, a provider of cloud-based talent management. Together, Oracle and Taleo intend to create a comprehensive cloud offering for organizations to manage their Human Resource operations and employee careers.
The combination is expected to help 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 transaction, which is valued at for $46 per share or approximately $1.9 billion, net of Taleo's cash and debt, is expected to close mid-year 2012, subject to Taleo stockholder approval, certain regulatory approvals and other customary closing conditions.
"Human capital management has become a strategic initiative for organizations," said Thomas Kurian, executive vice president, Oracle Development. "Taleo's industry leading talent management cloud is an important addition to the Oracle Public Cloud."
More information on this announcement can be found at http://www.oracle.com/taleo.