On June 23, SaaS* talent management provider Taleo announced the acquisition of Jobpartners for $38 million.
The goal: to strengthen its presence in Europe. While Taleo—founded in 1999 in Canada—is because of its origins very present in North America and has succeeded in making a name for itself in Asia, Europe remains a difficult market to conquer.
Three factors played into the selection of Jobpartners. First, it was a question of cultural compatibility: Jobpartners has a very customer-oriented policy, and has specialized in SaaS for almost ten years, which corresponded to what Taleo was seeking. Moreover, as a well-established company on the European market, Jobpartners had the advantage of knowing it well, and having experts in their field in place. Finally, Jobpartners had a number of big names in its 60 or so customers, including many from the CAC 40. The acquisition will double Taleo’s portfolio of large customers and make it one of the leading providers of SaaS talent management solutions in Europe.
To come…
It remains to be seen what will be become of Jobpartners’s solutions—while Taleo has promised to keep them all, integration methods are still unclear, and the two companies will be deciding on this together over the next few months.
Taleo’s board of directors has approved the acquisition, which will allow Taleo to increase GAAP (generally accepted accounting principles) sales by more than two million dollars, and non-GAAP sales by about five million. The transaction will be finalized by the end of the quarter, i.e. before September 30.
*Software as a Service