SuccessFactors Completes Acquisition Of Jobs2web
MINNEAPOLIS and SAN MATEO, Calif., Dec. 13, 2011 /PRNewswire/ -- SuccessFactors, Inc. (NYSE: SFSF), the global leader in cloud-based business execution software, today announced it has completed its acquisition of Jobs2web.
With Jobs2web, companies can drive social and mobile recruiting programs across all potential recruiting channels like Bing, Facebook, Google, Indeed, Jigsaw, Juju, LinkedIn, Twitter, Yahoo, Zoominfo, and other communities. Jobs2web works with all major recruiting vendors and ATS systems and will be immediately integrated with SuccessFactors' Business Execution applications. Together the two companies will continue to innovate, market and support a "stand-alone" Recruiting Marketing product. In addition to that existing business, the companies will work together to combine SuccessFactors' world-class Recruiting Management with Jobs2web's Recruiting Marketing to deliver the first-of-its-kind Recruiting Execution System.
"It was important to have clients, shareholders and employees all benefit in this transaction and I am personally gratified to say that we have achieved that in this event," said Ken Holec, CEO of Jobs2web. "100 percent of our employees are being retained and we are looking to expand on many fronts in the coming months to increase our resources, focus and continued innovation in Recruiting Marketing. This truly is a win for everyone."Beyond the new and innovative functional recruitment capabilities, customers will also benefit from the companies' shared vision for cloud-based technology. Both solutions are 100 percent SaaS deployed in the cloud. Jobs2web's CFO/COO, Steve Shaffer, will lead the new Jobs2web business unit and the existing Jobs2web team will report to him. Ken Holec will continue to be involved with Jobs2web as a strategic advisor to the company while founder Doug Berg will stay on in a critical product strategy role. "We are all very excited about this opportunity and the potential we have to raise our game to the next level," said Steve Shaffer, current CFO/COO and new general manager of the Jobs2web . "In addition to having Ken Holec's leadership and Doug Berg's innovation, a critical step in getting to this point was to have the backing and counsel of our investors at Updata Partners." Shaffer continued, " Rich Erickson, Ira Cohen and the team at Updata not only enabled us financially as early investors in the business, but throughout our growth by providing advice at key milestone events. This would not have been possible without their help and guidance." "Jobs2web has been a great experience for us and I couldn't be more pleased at the outcome for our investors and shareholders. The team at Jobs2Web has done a phenomenal job at building a highly valuable asset in a capital efficient way with an enormous opportunity to continue to lead the market as part of SuccessFactors. It is a great business run by some of the brightest people we've ever worked with" said Rich Erickson, Updata General Partner. He continued, " Raymond James & Associates served as financial advisor and Dorsey & Whitney LLP was legal counsel to Jobs2web in this transaction and without their help this would have not been possible."
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