Taleo Announces Acquisition of JobFlash
biz.yahoo.com
Wednesday March 7, 9:00 am ET
Talent Management Leader Acquires Assets of JobFlash, Adding IVR, Interview Scheduling and High Volume Hourly Capabilities to Taleo's Enterprise and SMB Offerings
DUBLIN, Calif., March 7 /PRNewswire-FirstCall/ -- Taleo (Nasdaq: TLEO), the leading provider of on demand talent management solutions, today announced that it has entered into an agreement to acquire the assets of privately-held JobFlash, based in Fremont, California in an all-cash transaction. Under the terms of the agreement, Taleo will acquire all of JobFlash's intellectual property, technology, and customers. Taleo will retain the majority of JobFlash's sales, services, and development personnel. The asset purchase agreement was signed on March 2, 2007 for a purchase price of approximately $3 million. The transaction is expected to close in the first quarter and is not expected to have a material impact on Taleo's operating results.
Founded in 2002, JobFlash enables employers to interact with the broadest pool of job seekers by providing multilingual telephone interactive voice response (IVR) and interview scheduling. With more than 60 customers and over 1,000 hiring locations, JobFlash serves leading customers such as Whole Foods, Ramada Hotel and Casino, and Securitas.
Taleo will productize and integrate JobFlash's IVR and interview scheduling products with Taleo Enterprise Edition, the talent management solution for large enterprises. Additionally, Taleo will leverage the JobFlash products to deliver an hourly recruiting offering to the small and medium business (SMB) market that complements Taleo Business Edition, the talent management solution for small and medium business.
"The JobFlash acquisition strengthens and expands Taleo's capabilities for high-volume hiring and allows us to offer new products to our large enterprise and SMB customers with rich functionality to enhance their recruiting efforts," said Michael Gregoire, Taleo president & CEO. "This acquisition is an example of our strategy to continue to expand and deepen our industry leading talent management solutions."
"JobFlash is a leader in IVR technology and high-volume candidate scheduling for hourly industries such as restaurants, casinos, retail stores, and hospitality," said Brad Benson, executive vice president, products and technology. "Taleo customers will receive the benefits of this new IVR sourcing channel -- especially for applicants with limited web access and businesses that find Internet hiring impractical. In addition, those customers needing a high-volume hiring solution for opening new locations can use the interview scheduling capabilities to streamline mass hiring with custom prescreening, automated interview scheduling, and compliance reporting."
Combining JobFlash's scheduling and IVR technology with Taleo's leading talent management solutions will provide job seekers with a faster, simpler alternative job application process from anywhere, at any time. Employers will reach a larger pool of applicants, more quickly identify the most qualified people, and accelerate the hourly hiring process -- shrinking time to hire from weeks to days. |
