Mergers and Acquistions News
Categories: Software
January 7th 2010, 17:08PM
Taleo Corporation, a provider of on-demand talent management solutions, has announced the completion of its acquisition of Worldwide Compensation, which delivers global compensation functionality.
Prior to the completion of the merger, Taleo held a 16 per cent equity interest in Worldwide Compensation and has now paid approximately $14 million (£8.8 million) to acquire all issued and outstanding capital stock of Worldwide Compensation.
It is hoped that the acquisition will extend Taleo's unified talent management suite to include leading compensation management software, consulting services and domain expertise.
"A top priority we've heard from customers, prospects and industry analysts is the ability to systematically align pay and incentives with performance," commented Michael Gregoire, chairman and chief executive officer of Taleo.
"We are pleased to add the best-in-class technology and staff from Worldwide Compensation."
Taleo recently announced that it had been listed in the leader's quadrant of Gartner's Magic Quadrant for E-Recruitment Software report.
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