Business execution software provider SuccessFactors has entered into a definitive agreement to acquire Inform Business Impact, which will enable SuccessFactors to offer business analytics and workforce planning as part of its business execution software suite.
Under the terms of the acquisition agreement, SuccessFactors will pay $25.5m in cash and approximately $15m in SuccessFactors common stock for Inform, with additional contingent consideration payable based on the fulfillment of continuing employment and the achievement of specified growth targets.
The company said that the addition of Inform’s cloud-based software boosts the company’s business execution software (BizX) offering.
According to SuccessFactors, the combined product will provide its customers with a strategic use of workforce information, while expediting business execution, allowing it to deliver predictive analytics, strategic workforce planning, strategic reporting, workforce analytics, workforce reporting, over 2000 key performance metrics, and peer benchmarking content for over 20 industries.
SuccessFactors said that the combined offering extends the value and builds on the investment customers have already made in the company by enabling them to assess their readiness to execute their strategies, forecast the impact of their business decisions, mitigate risk and take action accordingly.
The companies combined offerings are available to customers through an OEM agreement between the parties, enabling SuccessFactors to maximise cross-selling and up-selling opportunities and develop future versions of the integrated software.
Lars Dalgaard, founder and CEO of SuccessFactors, said: With this acquisition, SuccessFactors is arming CEOs, CFOs and human resource professionals with actionable, high-value insights to perform better, gain competitive advantage, and lower costs. Our acquisition of Inform turbo-charges our focus and commitment to BizX and will dramatically drive further adoption within the $36bn business execution market.
The acquisition is expected to close in Q3 2010, subject to customary closing conditions.