US-based software firm NetSuite has signed a definitive agreement to buy Canada-based Human Capital Management software provider TribeHR for an undisclosed sum.
With the move, the software firm plans to develop integrated cloud ERP and HCM software suite for SMBs.
The new software would likely be a single cloud-based application featuring the ERP capabilities that will allow users to run their core business operations along with social HR software.
NetSuite CEO Zach Nelson said, "TribeHR’s engaging system of record for employee activity, together with NetSuite’s single system of record for core operational business data gives SMBs a modern, single system to run the core aspects of their business all with the scalability, flexibility and agility of the cloud."
NetSuite has also announced the expansion of SuiteCloud partner ecosystem with HCM software providing firms including TribeHR in order to expand in areas of workforce management and global payroll.
In 2013 TribeHR has collaborated with NetSuite’s SuiteCloud Developer Network and developed the TribeHR SuiteApp.
