Saba Completes Acquisition of Halogen Software
Redwood Shores, CA - May 1, 2017 - Saba Software Inc., today announced that it has completed its acquisition of Halogen Software, Inc. (TSX:HGN). Saba, Vector Capital and its affiliates, and Michael Slaunwhite, Halogen's co-founder, executive chairman and largest shareholder, have acquired Halogen for CAD$12.50 in cash per share.
The new, combined organization is now one of the largest independent talent management companies in the world, with 1,000 employees serving more than 4,000 customers in 195 countries around the globe.
"No matter what size the company, all organizations are ultimately trying to solve the same challenge, which is how to better their business performance by engaging, developing, and investing in their employees," said Pervez Qureshi, CEO of Saba. "The combination of Saba and Halogen brings them something very powerful - the expertise of the best and brightest minds in talent management, a deep commitment to helping our customers solve new challenges in new ways, and a true passion to deliver value and innovation, better and faster. This is a unique combination, and something no one else in the market can provide."
The dynamics of the workplace are changing, and organizations that are evolving their approach to employee development and engagement are realizing more productivity and performance. Together, Saba and Halogen plan to deliver a new vision for talent management - one that combines people-centric learning, engagement, and performance in new ways, enabling organizations to meet their employees on new terms, and transform the employee experience.
"Organizations around the world, in every industry, have come to realize that they must place their talent strategy ahead of their business strategy. They cannot be industry leaders without a highly engaged and well-trained workforce," said Michael Rochelle, chief strategy officer and principal human capital management (HCM) analyst at Brandon Hall Group. "Saba and Halogen both have longstanding proven track records in helping their customers achieve their full talent potential and achieve breakthrough business performance. Saba and Halogen now have the opportunity to work together to create market-shaping approaches to learning and talent management for organizations of any size. Their combined strategy to deliver a user-centric employee learning and career development experience, while at the same time, directly linking that experience to organizational performance, is a powerful message that will resonate with learning and talent leaders alike."
As pioneers in their respective areas, and with over 40 years of combined experience in talent management, Saba and Halogen share common vision, values and culture, as well as a commitment to the growth and success of their customers.
"Halogen customers selected the best performance solution in the marketplace today, and Saba acquired Halogen for the same reasons their customers use the software; the people, the products, the culture, and the innovation," said John Hiraoka, Chief Strategy Officer at Saba. "This is something that we not only intend to continue, but to accelerate in the market. As a combined organization, we intend to rapidly deliver best-in-market innovations to both Saba and Halogen customers, with the same commitment to their growth and success they've come to expect."
Please reference the transaction release for further details.
Saba delivers a cloud-based intelligent talent management and engagement solution used by leading organizations worldwide to hire, develop, engage, and inspire their people. With machine learning at its core, Saba Cloud offers proactive, personalized recommendations on candidates, connections and content to help employees and businesses lead and succeed. It is purpose-built on a highly scalable platform that exceeds industry security and reliability standards. Following the acquisition of Halogen Software, Saba has more than 4,000 customers and 33 million users across 195 countries.
About Vector Capital
Vector Capital is a leading global private equity firm specializing in transformational investments in established technology businesses. With $3.3 billion of capital under management, Vector identifies and pursues these investments in both the private and public markets. Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of these businesses and enhance their value for employees, customers, and shareholders. For more information, visit http://www.vectorcapital.com.