SelectMinds

History of the company

On September 17, 2012 the Oracle corporation announced the reached purchase agreement of SelectMinds company, the system manufacturer for talent management that it will become logical continuation of the acquisition made by Oracle earlier there are purchases of Taleo for $1.9 billion. Conditions of the next transaction which should be closed until the end of 2012 do not reveal.

The SelectMinds system allows to find suitable candidates for work for the companies by means of channels in social media like Facebook and LinkedIn. In particular, a system relies on recommendations which already existing employees of the company can do to the acquaintances, Thomas Kurian, the vice president of Oracle for development of products explained.

The SelectMinds tools already work with the software of Oracle intended for recruitment, performance management and a human capital (HCM), said in the official statement of corporation.

Having concluded the next HRM transaction, Oracle will add to itself points in fight against the main competitor in this market, SAP which purchased the competing Taleo SuccessFactors company. The products Taleo are focused first of all on talent management, thus, they supplement functionality of own Oracle Fusion HCM system focused first of all on settlings with employees.

Purchase of IBM of Kenexa company for $1.3 billion became one more important transaction of 2012 in the market of HRM. Long time of IBM did not show much interest to the market of business applications, but this transaction confirms cardinal change of interests of the company.