ITWire

SelectMinds' cloud-based applications allow recruiters and employees to tap social connections and corporate alumni relationships in the hunt for new hires.

The company's applications are already integrated with Oracle Cloud Recruiting, Performance Management and Human Capital Management software.

"Recruiting candidates through employee referrals is widely acknowledged as the most effective method to find talent through trusted contacts," said Thomas Kurian, executive vice president, Oracle Development.

"By adding SelectMinds to Oracle's Talent Management Cloud, Oracle can help customers with a complete talent management solution, enabling streamlined recruiting practices, more quality referrals, faster employee on-boarding, and better performance."

SelectMinds CEO and founder Anne Berkowitch said "Oracle's proposed acquisition of SelectMinds represents a strong endorsement of SelectMinds intuitive social sourcing technology and the value customers have achieved with our solutions.

"We're excited to be a part of Oracle, and look forward to combining our resources to better serve and support customers with more global scale."

The transaction is expected to be completed before the end of 2012. SelectMind's management and employees are expected to join Oracle.

Financial terms of the transaction were not announced.