Oracle to buy Taleo for $1.9 billion
Oracle Corp (ORCL.O) said it will buy web-based recruitment software maker Taleo Corp (TLEO.O) for about $1.9 billion to expand its line of cloud computing products, one of fastest growing areas of the technology market.
The move will allow Oracle to better compete with rivals including SAP AG, which said in December it would buy cloud human-resources software maker SuccessFactors Inc for $3.4 billion to jump start its expansion into cloud computing.
The Taleo deal value of $46 a share offers an 18 percent premium to Taleo's Wednesday close of $38.94. Taleo shares surged 17 percent on Thursday and other makers of cloud-based software rose on hopes they might be the next to be sold in what could be a cloud-computing acquisition spree by big technology players.
