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Software giant Oracle announced this week that it has entered into an agreement to acquire SelectMinds, a provider of cloud-based social talent sourcing and corporate alumni management applications.
The acquisition is expected to be completed in the second half of 2012, but the firm did not disclose metrics of the deal.
“Recruiting candidates through employee referrals is widely acknowledged as the most effective method to find talent through trusted contacts. Making recruiting efforts efficient and seamless by leveraging social connections and through mobile applications helps companies find better quality candidates and continue to build the pipeline for future talent,” said Thomas Kurian, executive vice president at Oracle Development.
The move comes shortly after IBM last month reported the acquisition of Kenexa for US$ 1.3 billion to transform its social business and HR services.
SelectMinds’ applications help recruiters, hiring managers and employees to leverage social connections in order to distribute job opportunities, source referrals, market employment brands, and manage corporate alumni relationships.
The combination of Oracle and SelectMinds’ social sourcing capabilities will create “a comprehensive recruiting, candidate sourcing, and talent management offering … through social recruiting,” said Oracle.
SelectMinds products are already integrated with Oracle cloud recruiting, performance management and human capital management solutions.