Together, Oracle and Taleo expect to create a comprehensive Cloud offering for organisations 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 organisations 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 Board of Directors of Taleo has unanimously approved the transaction. The transaction 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 organisations", stated Thomas Kurian, Executive Vice President, Oracle Development. "Taleo's industry leading talent management Cloud is an important addition to the Oracle Public Cloud."
"Taleo's integrated Cloud-based talent management solutions optimize how organisations hire, manage, develop and reward their employees and gives companies the intelligence needed to capitalize on their most critical asset - their people", stated Michael Gregoire, Chairman and CEO, Taleo. "Joining forces with Oracle gives us the opportunity to better serve our customers."