Gobble, gobble.
That’s the sound you just heard as Taleo (profile; site) swooped in and gobbled up Vurv Technology (profile; site) for approximately $128.8 million in cash and stock.
Taleo says it opted to acquire Vurv to enhance its position in talent management and be able to meet the growing market demand for talent management solutions.
Taleo’s announcement on Tuesday “marks an inflection point for talent management, making it easier for customers to realize the full benefits of unified talent management applications,” said Taleo CEO Michael Gregoire, in a statement.
The combined company will serve over 3,400 customers around the world, including 48 of the Fortune 100, and more than 2,800 small- and medium-sized businesses.
Also on Tuesday, Taleo announced its Q1 results, noting revenues of $37.2 million, an increase of 30% year-over-year, and 8% quarter-over-quarter.
In addition, Taleo announced it signed 197 new customers in Q1, bringing Taleo’s customer base to over 1,700 organizations around the world. New customers include Burns & McDonnell, CIBER, InfoPrint Solutions Company, and Vail Resorts. Internationally, Taleo grew 52% over the same period last year, adding Merck KGaA and Renault SA as new customers.