Kirchner and Company, Inc. acted as M&A Advisor and Agent to JobFlash Inc.
Talent management leader acquires assets of JobFlash, adding IVR, interview scheduling and high volume hourly capabilities to Taleo’s enterprise and SMB offerings
Dublin, California, 07 March 2007 – Taleo (NASDAQ: TLEO), the leading provider of on demand talent management solutions, today announced that it has entered into an agreement to acquire the assets of privately-held JobFlash, based in Fremont, California in an all-cash transaction. Under the terms of the agreement, Taleo will acquire all of JobFlash’s intellectual property, technology, and customers. Taleo will retain the majority of JobFlash’s sales, services, and development personnel. The asset purchase agreement was signed on March 2, 2007 for a purchase price of approximately $3 million. The transaction is expected to close in the first quarter and is not expected to have a material impact on Taleo’s operating results.
Founded in 2002, JobFlash enables employers to interact with the broadest pool of job seekers by providing multilingual telephone interactive voice response (IVR) and interview scheduling. With more than 60 customers and over 1,000 hiring locations, JobFlash serves leading customers such as Whole Foods, Ramada Hotel and Casino, and Securitas.
Taleo will productize and integrate JobFlash’s IVR and interview scheduling products with Taleo Enterprise Edition, the talent management solution for large enterprises. Additionally, Taleo will leverage the JobFlash products to deliver an hourly recruiting offering to the small and medium business (SMB) market that compliments Taleo Business Edition, the talent management solution for small and medium business.
“The JobFlash acquisition strengthens and expands Taleo’s capabilities for high-volume hiring and allows us to offer new products to our large enterprise and SMB customers with rich functionality to enhance their recruiting efforts,” said Michael Gregoire, Taleo president & CEO. “This acquisition is an example of our strategy to continue to expand and deepen our industry leading talent management solutions.”
“JobFlash is a leader in IVR technology and high-volume candidate scheduling for hourly industries such as restaurants, casinos, retail stores, and hospitality,” said Brad Benson, executive vice president, products and technology. “Taleo customers will receive the benefits of this new IVR sourcing channel-especially for applicants with limited web access and businesses that find Internet hiring impractical. In addition, those customers needing a high-volume hiring solution for opening new locations can use the interview scheduling capabilities to streamline mass hiring with custom prescreening, automated interview scheduling, and compliance reporting.”
Combining JobFlash’s scheduling and IVR technology with Taleo’s leading talent management solutions will provide job seekers with a faster, simpler alternative job application process from anywhere, at any time. Employers will reach a larger pool of applicants, more quickly identify the most qualified people, and accelerate the hourly hiring process–shrinking time to hire from weeks to days.
The JobFlash solution is available for sale immediately from Taleo.
Leading organizations worldwide use Taleo (NASDAQ: TLEO) on demand talent management solutions to assess, acquire, develop, and align their workforce for improved business performance. More than 850 organizations use Taleo to recruit and retain top talent with 800,000 users processing 55 million candidates from 100 countries. Requiring no capital investment, software as a service and on demand delivery offer 99.9% availability and 100% accountability. For more information, visit www.taleo.com.
This release contains forward-looking statements, including statements regarding Taleo’s future financial performance, market growth, the demand for Taleo’s solutions and general business conditions. Any forward-looking statements contained in this press release are based upon Taleo’s historical performance and its current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Taleo’s expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Taleo disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including the possibility that the market for enterprise software does not develop as anticipated; the volatility of our stock price due to the difficulty in predicting operating results and the long sales cycle for our software; failure to develop new software products or enhance existing products; failure to retain key staff; the failure to maintain historical maintenance renewal rates; and the failure to properly protect our proprietary rights and intellectual property. Further information on potential factors that could affect actual results is included in Item 1A of Taleo’s Annual Report on Form 10-K, as filed with the SEC on April 17, 2006, in Item 1A of Taleo Quarterly Report on Form 10-Q, as filed with the SEC on November 14, 2006, and in other reports filed by Taleo with the SEC.
Jason Davis Horn Group