As you’re probably aware, today Oracle announced its intent to buy cloud-based talent management vendor Taleo for $1.9 billion in cash, an 18 percent premium over Taleo's closing price on Wednesday.
We view the acquisition as very positive for Saba and for our customers. It validates that Talent Management is a strategic business application area, and a critical part of every Company’s success. It also reaffirms the demand for the Cloud, as evidenced by the series of recent acquisitions by large enterprise vendors. While Oracle and Taleo focus on a complex integration process, Saba remains committed to providing our customers with the highest level of customer service available in the industry.
We are very encouraged by the opportunities this represents for Saba. By providing a unified talent management system, built organically on a single architecture, Saba can continue to provide organizations of all sizes with innovative cloud solutions dedicated to helping our customers thrive in a changing world of work. It is our assertion that talent-facing applications must be decoupled from ERP systems to ensure the highest level of innovation. As such, Saba’s solutions work with all HRIS systems including Oracle, SAP, Workday, Lawson (Infor) and others.
Today, more than 1,600 customers, and 51% of the Fortune 100 trust Saba for unified talent management solutions, with proven scalability to serve the needs of millions of users around the globe. We have been executing against our roadmap for the Saba Enterprise Cloud and are gearing up to launch the most innovative product in the market – Saba People Cloud, a unified, people-centric and Social platform designed to transform the way people work. As a result, we are looking forward to the exciting opportunities that lie ahead for our market.