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Oracle made it's third aquisition in three months, agreeing to acquire cloud based talent management company Taleo for $46 per share or roughly $1.9 billion, net of Taleo’s cash and debt. That's 18% percent higher than the Taleo's closing share price, the day before deal. Taleo's solution 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 Summer 2012. Here's how Oracle looks at the deal.
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, both the companies will continue to operate independently. According to Taleo, more than 5000 organizations use its solution everyday.
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