SAP Target SuccessFactors To Buy Jobs2web For $110M

Palm Beach, FL 12/6/11 (StreetBeat) --Cloud-based business software company SuccessFactors (NYSE:SFSF), which yesterday said it had agreed to be acquired by SAP (NYSE:SAP), announced its own acquisition today.

SuccessFactors has agreed to acquire marketing recruiting platform Jobs2web for $110 million in cash.

Jobs2web uses an applicant tracking system to attract candidates through social networks, which can save companies time and money.

SuccessFactors noted that Jobs2web’s roster of customers includes 3M (NYSE:MMM), Merck (NYSE:MRK), PepsiCo (NYSE:PEP) and others.

SucccessFactors said it will combine its social, mobile and collaborative recruiting management solution with Jobs2web’s recruiting marketing platform to create a transformational social recruiting engine.

The transaction is expected to close late this year, and is not expected to have a material impact on SuccessFactor’s fourth quarter or 2011 results.

Following a rally yesterday, SuccessFactor shares are looking as though they will pare their gains today.

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SuccessFactors Stock Soars On Heels of $3.4 Billion Deal to Be Sold to SAP

Palm Beach, FL 12/5/11 (StreetBeat)--Shares of SuccessFactors Inc. (NYSE:SFSF) soared more than 50 percent in premarket trading Monday after the company agreed to be sold to German software company SAP AG (NYSE:SAP) for $3.4 billion.

SuccessFactors makes software specializing in human resources tasks. The proposed acquisition is part of SAP's plan to compete with software rival Oracle Corp (Nasdaq:ORCL). It also underscores the growing interest in companies that deliver software over the Internet.

SAP is offering $40 per share for SuccessFactors. That's a 52 percent premium over SuccessFactors' closing stock price of $26.25 on Friday. SuccessFactors' stock rose $13.61, or 52 percent, to $39.86 in premarket trading Monday. U.S.-traded shares of SAP fell 94 cents, or 1.6 percent, to $58.60.

Morgan Keegan analyst Michael Nemeroff downgraded SuccessFactors to "Market Perform" from "Outperform" based on the deal. He said he does not believe that a higher bid will emerge for the company before SAP closes the acquisition in the next few months. Nemeroff also raised his target price to $40 from $33 and called the offer price "fair."

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