February 9, 2012 – Oracle has entered into an agreement to acquire Taleo Corporation for $46 per share or approximately $1.9 billion, net of Taleo's cash and debt. Together, Oracle and Taleo expect to create a comprehensive cloud offering for organizations to manage their human resource operations and employee careers. The transaction is expected to close mid-year 2012, subject to Taleo stockholder approval, certain regulatory approvals and other customary closing conditions. Taleo's integrated cloud-based talent management solutions “optimize how organizations hire, manage, develop and reward their employees and gives companies the intelligence needed to capitalize on their most critical asset — their people,” said Michael Gregoire, chairman and CEO, Taleo. Human capital industry consultant, Scott A. Scanlon, said that what Taleo brings to the table, significantly, are the tools that help companies recruit employees and manage human resources – providing an equalizer to SAP’s coming $3 billion-plus acquisition of talent manager SuccessFactors. “We are seeing the future unfold in this market right before our eyes,” said Mr. Scanlon, managing director of HSZ Media’s newswire service.