[Techtaffy Newsdesk]

Oracle has entered into an agreement to acquire Taleo, a provider of cloud-based talent management, for $46.00 per share or approximately $1.9 billion, net of Taleo’s cash and debt.

The Board of Directors of Taleo has unanimously approved the transaction. The transaction is expected to close mid-year 2012, subject to Taleo stockholder approval, certain regulatory approvals and other customary closing conditions.

Thomas Kurian (Executive vice president, Oracle Development): Human capital management has become a strategic initiative for organizations.