Taleo Closes Acquisition of Worldwide Compensation
Leader in Talent Management Enables Companies to Align Business Priorities and Pay for Performance
January 04, 2010: 07:00 AM ET
Taleo Corporation (NASDAQ: TLEO), the leading provider of on-demand talent management solutions, today announced the completion of its acquisition of Worldwide Compensation, Inc., on January 1, 2010. Prior to completion of the acquisition, Taleo held a 16% equity interest in Worldwide Compensation, Inc. Pursuant to the merger agreement, Taleo paid approximately $14 million in cash to acquire all issued and outstanding capital stock, options and warrants of Worldwide Compensation not already owned by Taleo. This acquisition extends Taleo's unified talent management suite to include best-in-class compensation management software, consulting services and domain expertise.
Taleo Compensation offers integrated global compensation management via a 100% on-demand software solution that enables companies to more easily align business goals with employee performance, and then appropriately reward key talent. It facilitates the localization of total compensation programs while allowing companies to maintain centralized control over their human resource investments.
With the acquisition, Taleo will cement its offering of the three critical components for managing a talent-optimized organization: Taleo Recruiting(TM) to source, assess and acquire employees; Taleo Performance(TM) to establish goals and create development and succession plans; and now Taleo Compensation (TM) to establish a true "pay-for-performance" process between corporate objectives and individuals' contributions.
Worldwide Compensation's solutions are being deployed with globally distributed companies, including existing Taleo customers such as Con-way Inc.. "We're very excited to partner with Taleo as we develop a broad-based performance-based pay system both domestically and internationally," said Jessica Carbullido, Director of Compensation at Con-way Inc. "Taleo's newly expanded solution provides us with a solid base from Taleo Recruiting and what is now Taleo Compensation that we've implemented at various levels throughout our organization, as part of our long term strategy."
"As CEOs look to drive growth in 2010, it will be critical to engage and reward the very best performers in their organizations. A top priority we've heard from customers, prospects and industry analysts is the ability to systematically align pay and incentives with performance," said Michael Gregoire, Taleo's Chairman and CEO. "We are pleased to add the best-in-class technology and staff from Worldwide Compensation to enable enterprises with a total talent management solution to achieve greater performance."
Taleo (NASDAQ: TLEO) is the leader in on-demand unified talent management solutions that empower organizations of all sizes to better understand and engage their best talent for improved business performance. More than 4,200 organizations use Taleo for talent acquisition and performance management, including 46 of the Fortune 100 and over 3,500 small and medium sized businesses across 200 countries and territories. Known for its strong configurability and usability, Taleo runs on a world-class infrastructure and offers 99.9% availability. Taleo's Talent Grid harnesses the resources of the Taleo community of customers, candidates, and partners to power the talent needs of companies around the world.