Oracle announced that it has entered into an agreement to acquire SelectMinds, a provider of cloud-based social talent sourcing and corporate alumni management applications. This acquisition follows Oracle’s previous asset purchase of Skire, a provider of capital program management and facilities management applications, which are available both on-premise and in the cloud.
Indeed, the giant IT company has been moving into the cloud. Just this year, Oracle announced several cloud-based firm acquisitions. Within the month of June, the company had two agreements: one for the social marketing and engagement platform Vitrue and the other for the cloud-based social intelligence firm, Collective Intellect.
It is important to note that last year, its rival, the Germany-based company SAP bought SuccessFactors, also a provider of cloud-based human capital management solutions, and this came after the company had made other cloud-firm acquisitions.
Oracle noted that with SelectMinds, it expects to create a comprehensive recruiting, candidate sourcing and talent management solution for organizations to find quality referrals through social recruitment. The addition of SelectMinds is expected to further extend Oracle’s social and mobile initiatives into talent management, and it is already fully integrated with Oracle’s cloud recruiting, performance management and human capital management solutions.
The transaction is subject to customary closing conditions and approvals. It is expected to close in the second half of 2012. Until then, Oracle and SelectMinds will continue to operate independently.