SuccessFactors (SFSF) to Acquire Jobs2web - A Multi-Channel Interactive Recruiting Marketing SaaS Company
Creates recruiting experiences that don't stink, and business execution dashboards that dramatically cut costs
SAN MATEO, Calif., Dec. 6, 2011 /PRNewswire/ -- SuccessFactors, Inc. (NYSE: SFSF), the global leader in business execution cloud-based software, today announced a definitive agreement to acquire Jobs2web, the leading recruiting marketing platform, delivering the first-ever Recruiting Execution Platform.
Jobs2web is renowned in the recruiting industry for its unique ability to "turbocharge" any Applicant Tracking System (ATS) and attract the very best candidates through social networks. By creating superb recruiting experiences for hiring managers as well as candidates, companies can save time and money, foster engaged communities, and enhance their brand reputation.
Jobs2web is a high-growth performer in the cloud industry with healthy revenue and an impressive roster of customers, such as 3M, Merck, PepsiCo, Rackspace and Taco Bell, among others, that have deployed an integrated multi-channel recruiting strategy with Jobs2web. For more details, please visit the Jobs2web testimonials page: www.jobs2web.com/resources/testimonials-video/.
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. SuccessFactors will combine its industry leading social, mobile and collaborative recruiting management solution with Jobs2web's leading recruiting marketing platform to produce a transformational social recruiting engine with dynamic talent communities that minimize cost and maximize quality and speed. This new platform will help companies find the best people, drive more engagement with potential candidates and analyze program effectiveness.
"It was easy for SuccessFactors to pull the trigger on acquiring Jobs2web, despite an extremely competitive acquisition fight for them, because they have so many powerful assets. First, they're growing incredibly fast. And they are completely disrupting the way companies can make social networks their friends in recruiting and not a distraction, helping hiring managers find people in ways they never could before. Lastly, the analytics dashboards provide quality insights not seen in this industry before," said Lars Dalgaard, founder and chief executive officer, SuccessFactors. "There are 300 million job searches alone on Google each year, that companies don't know how to get to, with Jobs2web SuccessFactors can help companies turn resumes into candidates, broadcasting their jobs in all social networks."
New SuccessFactors Recruiting Execution Platform
The SuccessFactors and Jobs2web recruiting solutions complement each other in that Jobs2web's recruiting marketing platform drives the process before the candidate application, and SuccessFactors drives everything from application to hire and beyond. Previously, companies had to piece disparate solutions together. Now, companies can leverage a comprehensive Recruiting Execution Platform as part of the SuccessFactors Business Execution Suite (BizX), starting with the modules that suit their needs and expanding as they are ready - all from a single cloud-based vendor.
As part of the Recruiting Execution Platform, Jobs2web helps companies to:
- Find the Best People - Companies can bring the candidate network to the open job instead of the job to the network through a variety of channels, including search engines, social networks and mobile career sites. www.jobs2web.com/what-we-do/find-better/
- Engage in a Unique Way - Managers can add insights and automation to their candidate relationship management process and create "talent communities" that will drive more engagement with potential candidates. www.jobs2web.com/what-we-do/engage-better/
- Analyze Effectiveness - With targeted search engine optimization (SEO) and campaigns, executives gain real insights into recruiting advertising campaigns and overall sourcing strategy so that executives know what is and isn't working and where to focus their investment. www.jobs2web.com/what-we-do/know-better/
"We chose to join SuccessFactors because of its clear market leadership. Our leadership team is ecstatic to join the SuccessFactors team with its focus on driving real business execution for its customers and the company's mission to solve its customers' biggest problems," said Ken Holec, chief executive officer, Jobs2web. "Legacy ATS systems are not much more than electronic filing cabinets and job boards just aren't enough. Companies aren't using them, quality candidates aren't using them. Simply trying to deploy a Facebook page doesn't work, and neither does just buying LinkedIn licenses. We make LinkedIn better, Facebook better, your mobile recruiting better, every part of the recruiting process better. Hiring the best people can be complex and hard to manage, and we're making it easy. Our joint Recruiting Execution Platform will offer customers an unmatched level of recruiting insights and knowledge to take the guess work out of recruiting."
A Winning Combination: SuccessFactors and Jobs2web
SuccessFactors has continued to build on its core (BizX) suite and revolutionize the market through its R&D of new solutions and innovative product acquisitions. Like the company's other acquisitions, Jobs2web is a strong strategic fit from a technological, functional and cultural standpoint:
- Technology: SuccessFactors has focused on building multi-tenant software-as-a-service (SaaS) software since day one. Similarly, Jobs2web's solutions are true, multi-tenant SaaS. This will yield significant advantage in integrating the solutions and increase speed to market for new product updates.
- Functionality: The two solutions complement one another to address the full recruiting cycle and provide robust analytics. Jobs2web will be a "candidate magnet" for SuccessFactors' proven hiring engine and will add to SuccessFactors' market leading analytics, providing more actionable insights for customers to continually refine their end-to-end recruiting processes. It introduces extremely dynamic Talent Communities, and allows for social recruiting. www.jobs2web.com/solutions/social-network-recruiting/
- Cultural: SuccessFactors and Jobs2web are both leaders who have excelled in pioneering new markets with continued innovation and a relentless focus on customer success.
Jobs2web brings more than 150 new customers to SuccessFactors. After the deal closes, Jobs2web will operate as a business unit within SuccessFactors. Customers will have the option of purchasing Jobs2web to work as a deeply integrated solution with SuccessFactors Recruiting Management, to operate in conjunction with any other applicant tracking system (ATS) they may own, or to operate as a standalone solution. The pricing models for Jobs2web's Recruiting Marketing Platform and SuccessFactors' Recruiting Management Platform will remain the same.
Under the terms of the acquisition agreement, which is subject to various closing conditions, SuccessFactors will pay <money>$110 million</money> in cash for Jobs2web. The transaction is expected to close late in 2011 and is not expected to have material impact on SuccessFactors' fourth quarter and full year 2011 results.
For more information read the Q&A at www.successfactors.com/Jobs2web.
About SuccessFactors, Inc.
SuccessFactors is the leading provider of cloud-based Business Execution Software, and delivers business alignment, team execution, people performance, and learning management solutions to organizations of all sizes across more than 60 industries. With approximately 15 million subscription seats globally, we strive to delight our customers by delivering innovative solutions, content and analytics, process expertise and best practices insights from serving our broad and diverse customer base. Today, we have more than 3,500 customers in more than 168 countries using our application suite in 35 languages.
Jobs2web helps employers measure and optimize every aspect of their interactive recruiting strategy. Client's hire better people, faster and more cost effectively. By using Jobs2web's proven Recruit Better® system, employers know which online channels provide better return on investment, recruit better talent and deliver better candidate engagement. See how at www.Jobs2web.com.
"Safe harbor" statement under the Private Securities Litigation Reform Act of 1995:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are SuccessFactors' current expectations and beliefs.
These forward-looking statements include statements about the benefits of the proposed acquisition. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: our ability to retain customers; integration risks, including risks related to integration of Jobs2web's products, technologies and personnel and managing geographically-dispersed operations; assumption of liabilities; whether customers of Jobs2web will desire to continue as customers pricing pressures; the uncertain impact of the overall global economic conditions, including on customers, prospective customers and partners, the fact that the business execution market is at an early stage of development, and may not develop as rapidly as we anticipate; competitive factors; outages or security breaches; our ability to develop, and market acceptance of, new services; the impact of any discovered product defects or outages; our ability to manage our growth; the impact of unforeseen expenses, including as a result of integrating acquisitions; and general economic conditions worldwide. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.
Further information on these and other factors that could affect these forward-looking statements is included in the section entitled "Risk Factors" in our Annual Report on Form 10-K and in our most recent report on Form 10-Q and in other filings we make with the Securities and Exchange Commission from time to time.
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