On September 17, 2012, Oracle announced that it has entered into an agreement to acquire SelectMinds, a provider of cloud-based social talent sourcing and alumni management applications. The transaction is subject to customary closing conditions and approvals and is expected to close in the second half of 2012. Until the transaction closes, Oracle and SelectMinds will continue to operate independently, and it is business as usual.
Organizations are looking for new ways to address the escalating costs of recruiting quality candidates. By leveraging employees' and alumni professional networks, employers are able to find and fill critical talent and continue to fill the pipeline with higher quality referrals. SelectMinds applications enable organizations to empower recruiters, hiring managers and employees to leverage social connections to distribute job opportunities, source higher quality referrals, market their employment brand and manage corporate alumni relationships.
Together, Oracle and SelectMinds expect to create a comprehensive recruiting, candidate sourcing, and talent management solution for organizations to reach quality referrals through social recruitment. The addition of SelectMinds is expected to further extend Oracle's social and mobile initiatives into talent management and is already fully integrated with Oracle Cloud Recruiting, Performance Management and Human Capital Management solutions.
More information about the proposed combination of Oracle and SelectMinds can be found at oracle.com/selectminds.
We appreciate your continued support.
Executive Vice President
Oracle is currently reviewing the existing SelectMinds product roadmap and will be providing guidance to customers in accordance with Oracle's standard product communication policies. Any resulting features and timing of release of such features as determined by Oracle's review of SelectMinds' product roadmap are at the sole discretion of Oracle. All product roadmap information, whether communicated by SelectMinds or by Oracle, does not represent a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. It is intended for information purposes only, and may not be incorporated into any contract.
Cautionary Statement Regarding Forward-Looking Statements
This document contains certain forward-looking statements about Oracle and SelectMinds including statements that involve risks and uncertainties concerning Oracle's proposed acquisition of SelectMinds, anticipated customer benefits and general business outlook. When used in this document, the words "anticipates", "can", "will", "look forward to", "expected" and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Oracle or SelectMinds, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the possibility that the transaction will not close or that the closing may be delayed, the anticipated synergies of the combined companies may not be achieved after closing, the combined operations may not be successfully integrated in a timely manner, if at all, general economic conditions in regions in which either company does business may deteriorate and/or Oracle or SelectMinds may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Oracle or SelectMinds. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither Oracle nor SelectMinds is under any duty to update any of the information in this document.