Oracle has acquired SelectMinds, a provider of cloud-based social talent scouting and corporate alumni management applications.
Essentially, Oracle is boosting its own cloud-based human resources application portfolio with this deal as well as extending its social and mobile strategies to include talent management.
SelectMinds' applications are designed to encourage recruiters, hiring managers and employees to use social network (i.e. Facebook, LinkedIn, and Twitter) connections for marketing, advertising job opportunities, and finding higher-quality referrals.
Some of the New York City-based company's products have already been integrated with select Oracle solutions, including Cloud Recruiting, Performance Management and Human Capital Management products. Oracle will also be combining SelectMinds' educational program with Oracle University.
Financial terms of the deal have not been disclosed, and the deal is expected to close by the end of the year.
Until then, Oracle and SelectMinds will continue to operate independently. SelectMinds customers and partners are advised to continue using their existing contacts for support, professional services, and sales. The SelectMinds team is expected to join Oracle after the transaction closes.
The SelectMinds product portfolio will likely go well with that of another Oracle acquisition earlier this year: Taleo, an on-demand talent management software company that Oracle bought for $1.9 billion in February.
With these two companies under the Oracle fold, they present stronger competition to the likes of SAP-owned SuccessFactors.