Market Overview

Oracle Buys SelectMinds; Terms Undisclosed

Oracle (NASDAQ: ORCL)

News Facts

Oracle today announced that it has entered into an agreement to acquire SelectMinds, a provider of cloud-based social talent sourcing and corporate alumni management applications. SelectMinds' applications enable organizations to empower recruiters, hiring managers and employees to leverage social connections to distribute job opportunities, source higher quality referrals, market their employment brand and manage corporate alumni relationships. With referrals as the #1 source for external hires*, organizations are looking to tap into higher-quality talent by leveraging employees' social connections. The combination of Oracle and SelectMinds' complementary social sourcing capabilities is expected to create a comprehensive recruiting, candidate sourcing, and talent management offering for organizations to reach quality referrals through social recruiting. SelectMinds products are already fully integrated with Oracle Cloud Recruiting, Performance Management and Human Capital Management solutions and further extend Oracle's social and mobile initiatives into talent management. More information on this announcement can be found at http://www.oracle.com/selectminds.

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