The acquisition will expand Taleo's ability to serve customers based in Europe and makes Taleo one of the largest SaaS-based talent management vendors in the region. Taleo's acquisition of Jobpartners doubles its customers based in Europe, and more than doubles the size of its team of professionals in Europe, providing an unmatched ability to serve the customers in this region.
Michael Gregoire, chairman and CEO of Taleo, said: "We have been impressed by the capabilities of the Jobpartners team and the close relationships they have built with their large and sophisticated Europe-based customers. This acquisition creates an opportunity for us to accelerate our expansion outside of North America by increasing our customer base, increasing our local sales and support capacity as well as taking advantage of the Jobpartners Eastern European development center. With our expertise and skills, and Jobpartners' experienced employees, we have the unmatched ability to serve and expand our combined base of European customers."
Taleo will acquire Jobpartners for approximately $38 million in cash. The acquisition has been approved by Jobpartners' board of directors and is expected to close in the quarter ending September 30, 2011 subject to customary closing conditions. Additional details and information about the terms and conditions of the acquisition will be available in a current report on Form 8-K to be filed by Taleo with the United States Securities and Exchange Commission. The acquisition of Jobpartners is expected to add approximately $2-3 million to Taleo's GAAP revenue and $5-6M to its non-GAAP revenue in 2011. The acquisition is expected to be dilutive to GAAP earnings per share and neutral to non-GAAP earnings per share in 2011. Taleo expects to provide an updated financial outlook for its fiscal third quarter and full year 2011 during the quarterly earnings call.
