Taleo, a Dublin, CA-based provider of on-demand talent management solutions, announced today it has entered into an agreement to purchase Cytiva, a mid-market provider of on-demand recruiting software solutions.
The purchase price is $11 million Canadian cash, according to a company release. It is expected to be completed early in Q2, 2011.
Taleo agreed to purchase Cytiva because, according to the release, “this acquisition solidifies Taleo’s leadership position in talent management for small and medium-sized businesses, and will extend Taleo’s customer base that will benefit from Taleo’s unified talent management platform.”
“We are excited about the opportunity to continue providing Cytiva’s customers with a high level of service and support while bringing them the advantages of Taleo’s full suite of recruiting, performance, succession, compensation, and learning capabilities,” said Michael Gregoire, Chairman and CEO of Taleo. “Through our experienced, dedicated integration team we will ensure that our new customers’ needs are heard and addressed as they leverage all of Taleo’s capabilities to better know their people and drive business results.”
Cytiva, Inc., a wholly owned subsidiary of Cytiva Software Inc., started as a job board serving the technical industry in 1995 and has evolved over the years into an SaaS talent management software provider.
In 2001, Cytiva released the SonicRecruit applicant tracking system in response to job board clients requesting a way to manage the growing volume of resumes they received. Clients include Restoration Hardware, Ocean Spray and Mediacom.