Adds leading Talent Management Cloud offering to the Oracle Public Cloud.

Press release issued by Oracle
Redwood Shores, California, 23 Feb 2012
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Oracle today announced it has entered into an agreement to acquire Taleo Corporation (NASDAQ:TLEO), a leading provider of cloud-based talent management, for $46 per share or approximately $1.9 billion net of Taleo's cash and debt. Taleo's Talent Management Cloud helps organisations attract, develop, motivate and retain human capital to improve performance and drive growth.

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 optimise 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,” said 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 optimise how organisations hire, manage, develop and reward their employees and gives companies the intelligence needed to capitalise on their most critical asset – their people,” said Michael Gregoire, Chairman and CEO, Taleo. “Joining forces with Oracle gives us the opportunity to better serve our customers.”

More information on this announcement can be found at http://www.oracle.com/taleo.