SuccessFactors to buy privately held Jobs2web for $110 million

US-based cloud computing software firm SuccessFactors, which is being acquired by German enterprise software company SAP, today said it will buy privately held Jobs2web, for $110 million in cash.

Founded in 2003, Minneapolis-based jobs2web is an interactive recruiting-marketing company that uses web-delivered software to help companies to recruit candidates through social media websites like Twitter, LinkedIn and search engines.

With 120 employees, Jobs2Web has Microsoft, PepsiCo and Merck & Co among its over 150 clients.

In 2009, Inc magazine recognised Jobs2Web as one of the 500 fastest growing privately held companies, and Human Resource Executive magazine awarded their Recruiting Dashboard the 2009 top HR Product of the Year.

''SuccessFactors has a leading recruiting management platform and Jobs2web is the pioneer and thought leader in recruiting marketing. Together, SuccessFactors and Jobs2web will further distance from any competitor in the market today by combining both recruiting platforms into one integrated solution that will significantly simplify and streamline the entire recruiting process,'' SuccessFactors said in a statement.

Jobs2web will be a "candidate magnet" for SuccessFactors' proven hiring engine and will add to SuccessFactors' market leading analytics, providing more actionable insights for customers to continually refine their end-to-end recruiting processes, the company added.

On 3 December, SAP announced that plans to buy SuccessFactors for $3.4 billion in cash, in a bid to become a global leader in the cloud-computing market. (See: SAP to buy Success Factors for $3.4 bn)