Business News
Oracle to purchase Taleo for 1.9 billion dollars
Feb 9, 2012, 21:22 GMT
San Francisco - Business software giant Oracle is to purchase human resources management company Taleo for 1.9 billion, the companies announced Thursday.
The sale follows the recent purchase by Oracle competitor SAP of rival human-resources software company SuccessFactors for 3.4 billion dollars.
'Human capital management has become a strategic initiative for organizations,' said Thomas Kurian, executive vice president of Oracle Development. 'Taleo's industry-leading talent management cloud is an important addition to the Oracle Public Cloud.'
The deal, unanimously approved by Taleo's board, is expected to close by the middle of the year.
Taleo's products are used by some 5,000 enterprises and handle about 15 per cent of all US hires every year.
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