In a deal that complements its earlier acquisition of cloud-based human resource management application vendor Taleo, Oracle Corp. (NASDAQ: ORCL) announced its acquisition this week of SelectMinds, a provider of cloud-based social talent sourcing and corporate alumni management applications.
The company’s applications help recruiters, hiring managers and employees leverage social connections to distribute job opportunities, source higher quality referrals, market their employment brand and manage corporate alumni relationships. The goal is to tap into higher-quality talent by leveraging employees’ social connections.
“Oracle’s proposed acquisition of SelectMinds represents a strong endorsement of SelectMinds intuitive social sourcing technology and the value customers have achieved with our solutions. We’re excited to be a part of Oracle, and look forward to combining our resources to better serve and support customers with more global scale,” said Anne Berkowitch, CEO and Founder of SelectMinds, in a statement.
Oracle said it expects the combination of Oracle and SelectMinds’ complementary social sourcing capabilities will create a comprehensive recruiting, candidate sourcing, and talent management offering. SelectMinds products are already fully integrated with Oracle Cloud Recruiting, Performance Management and Human Capital Management solutions.
“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, Oracle Development, in a statement. “By adding SelectMinds to Oracle’s Talent Management Cloud, Oracle can help customers with a complete talent management solution, enabling streamlined recruiting practices, more quality referrals, faster employee on-boarding, and better performance.”