Oracle has agreed to buy Taleo Corp. for $1.9 Billion to add talent management software to its cloud computing strategy. According to today's announcement holders of Taleo will get $46 a share - that’s 18 percent higher than Taleo’s closing share price yesterday.
While any Billion dollar acquisition is big news, Techvibes tends to focus on Canadian news. So why are we covering the acquisition of Taleo?
Vanedge Captial's Divesh Sisodraker (also a past Techvibes contributor) relocated to San Francisco 7 years ago to become EVP and CFO of the talent-management enterprise software company. The Canadian connections don't end there though and run even deeper.
Taleo's roots date back to 1996, when founder Martin Ouellet created Viasite, which became the most successful job board in Canada. In Quebec City, Ouellet and Louis Tetu began to work with visionary Fortune 500 companies to develop innovative online recruiting solutions that could meet world-class talent and human capital management needs. Taleo was born.
Today Taleo is led by Chairman and Chief Executive Officer Michael Gregoire, a Canadian that graduated from Wilfrid Laurier University.