Through the acquisition, Taleo said it intends to strengthen its position in the learning management systems
market. Learn.com’s solutions are currently used by 500 global companies and support up to 200,000 users per customer, with about two million end users worldwide.
According to BusinessWeek.com, under the terms of the deal, Taleo agreed to offer up to $2 million of interim financing in connection with the acquisition, to be drawn down by Learn.com. Any amount outstanding when the transaction closes will be deducted from the purchase price.
Learn.com, which specializes in SaaS learning management solutions, has been a strategic partner of Taleo since September 2009. The two firms have worked together to develop a social and formal learning offering designed to help companies better leverage their internal social networks to share institutional expertise.
“We’ve been impressed with the forward-thinking approach to learning from Taleo and Learn.com,” said Mike Perkins, Senior Manager of Learning Technologies at Newell-Rubbermaid. “With their help, we are powering robust, interactive and scalable social learning options for our teams that include video podcasts and development portals so that we can engage them in learning, where and when they need it. We look forward to partnering with the combined organization moving forward.”
“As businesses transform to ignite growth, they can’t afford to create a knowledge gap between the skills they have in their teams and the skills they need to drive business,” said Michael Gregoire, Chairman and CEO of Taleo. “Learn.com’s social learning and collaborative functionality makes it easier to close that gap. We are pleased to add best-in-class technology, staff and customers from Learn.com to enable enterprises with a total talent management solution to achieve greater performance.”