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.
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"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."
For more information read the Q&A at http://www.successfactors.com/Jobs2web.
About Jobs2web
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.
About SuccessFactors
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.
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"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 and to experience high customer renewal rates; integration risks, including risks related to integration of Jobs2web 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, renewal rates and length of sales cycles; 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 continue to sell our services outside the HR area; our ability to manage our growth; our ability to successfully expand our sales force and its effectiveness; whether our resellers and other partners will be successful in marketing our products; our ability to continue to manage expenses; 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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Andrea Meyer
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SOURCE SuccessFactors, Inc.
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