Market Overview

Taleo Up 17% After Oracle Agrees to Acquire for $1.9B

Shares of Taleo (NASDAQ: TLEO) are up more than 17% today after the company announced that it would be acquired by Oracle (NASDAQ: ORCL) for $1.9 billion.

The company today announced that it has entered into an agreement to acquire Taleo Corporation, a leading provider of cloud-based talent management for $46.00 per share or approximately $1.9 billion, net of Taleo's cash and debt. Taleo's Talent Management Cloud helps organizations 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 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.

Posted-In: News M&A Intraday Update Movers

 

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