Extends Talent Management Breadth; Powers Social and Formal Learning
DUBLIN, CA, Sep 2010 (MARKETWIRE via COMTEX News Network) -- Taleo Corporation (NASDAQ: TLEO), the leading provider of on-demand talent management solutions, today announced it has signed a definitive agreement to acquire strategic partner Learn.com, Inc. for approximately $125 million in cash.
With the acquisition, Taleo will extend its Talent Management suite, becoming the only public vendor to offer best-in-class solutions across the four critical components of a talent-optimized organization: recruiting management to source, assess and acquire talent; performance management to establish goals and create career and succession plans; compensation management to establish a true "pay-for-performance" process between corporate objectives and individuals' contributions; and now learning management to support social and formal development.
Learn.com is a leading next generation provider of SaaS learning management solutions, a market estimated to be $1 billion in 2011 according to Bersin & Associates. Its software enables businesses to more seamlessly develop, deliver and manage education and training to help employees, customers and partners reach their full potential. Learn.com's social learning and web conferencing features also enable companies to build collaborative learning and knowledge sharing solutions, which are among the fastest growing applications in employee development today.
Learn.com's solutions are in use today with more than 500 global companies of all sizes, and support up to 200,000 users per customer, with about two million end users worldwide.
"The Learning Management Systems market is now entering a new growth phase -- one supporting social, collaborative, and informal learning solutions," said Josh Bersin, President and CEO of Bersin & Associates, a leading research and advisory services firm.
"Through its acquisition of Learn.com, Taleo now has the opportunity to take a strong position in this market and deliver an integrated end-to-end platform which integrates recruiting, performance management, compensation, and learning into a complete SaaS solution."
